Managing Director of Toyota (Nigeria) Limited (TNL), Mr. Kunle Ade-Ojo has bagged the Nigeria Auto Journalists Awards as the Chief Executive Officer of the year.
A graduate of Mechanical Engineering from the University of Reading, he also holds an M.Sc in Automotive Product Engineering from Cranfield University, both in the United Kingdom. He worked extensively in different operational departments while at Toyota Motor Sales, USA.
He was Business and Strategic Development Manager and Executive Director until his appointment as the Managing Director of Toyota Nigeria.
He has attended various Executive Management Programmes both at the Lagos Business School and the Wits Business School, South Africa. He is a Member of Council, Lagos Chamber of Commerce and Industry and also a Member of the Institute of Directors of Nigeria.
Meanwhile, Kunle Ade-Ojo was recently appointed to join the Governing Council of Elizade University, Ilara Mokin, Ondo State. The Council is chaired by former Managing Director of Access Bank Plc and the President of the Nigeria Stock Exchange, Mr. Aigboje Imoukhuede, has been appointed as the Pro-Chancellor and Chairman.
Other Council members are the wife of the former Governor of Ekiti State, Mrs. Bisi Fayemi, Dr. Bola Adediji, Dr. Ayo Ojo, Prof. Theopilus Olawoye, Mr. Begunde Oladipo, Prof. Biyi Akinaso and Mr. Olusola Adekanola.
Meanwhile, speaking in an interactive forum with journalists about the industry and his company recently, Kunle Ade-Ojo said “here in TNL, we adopt proper risk management approach,” he explained.
“Rather than using fire brigade approach, we, in the last three, four years, far before the recession appeared, planned ahead.
“So, when we came into this year, we did the same thing. Although, the risk factor has been more than we planned, we never thought it is going to be this way; but as soon as we realized how the effect would be on us, we made certain changes.
For example, we did a lot of cost reduction as far as our administrative cost is concerned.”
“We reduced cost to about 40%, because business is not the way it used to be. We are also more cost effective in some of the marketing activities we get involved in. And we are thinking: how do we maximize profit without spending as much as we used to do in the past?”
“In the past, whenever we had a product launch, it used to be done with fanfare, in which case, we spent a lot of money.
“But now there is no need to do that. We do it now in a smaller way and there are also internal things that we do to ensure that the product is well known without spending the kind of money we used to spend in the past.
Even our benefits and some things we used to have in the past, we cut them down. We even have an award for any department which comes up with something reasonable that will impact the organization”.