PLANO, Texas, Sept. 18, 2018 /PRNewswire/ -- Rich Valenstein has been named group vice president, revenue management and product profitability, for Toyota Motor North America (TMNA).
In this newly created position, Valenstein will be responsible for TMNA's product cost and profitability analysis, leading the company's drive to optimize revenue, including introduction of enhanced data analytics tools, as well as leading financial support for Toyota's North American parts and accessories operations.
He will continue to report to Tracey Doi, chief financial officer and group vice president, accounting and finance.
"Rich has been an integral part of our finance team for many years. He has already set a strong foundation that he will continue to build upon as he leads TMNA's revenue optimization efforts," Doi said. "We look forward to seeing the impact he can make with new analytical capabilities, in partnership with key leaders across the enterprise."
Previously, Valenstein served as vice president, finance, for TMNA. In this capacity, he oversaw the finance function for Toyota's integrated automotive operations in North America, which includes design, manufacturing, marketing, sales, distribution and aftermarket activities. Valenstein was responsible for business planning, budgeting, forecasting, profit/cost analysis and affiliate finance. He also oversaw Toyota's NA Regional Treasury Center, including corporate, pension and savings plan investments and treasury operations.
Valenstein also concurrently served as CFO/treasurer for Toyota Mexico, Toyota Puerto Rico, and other subsidiaries.
Prior to joining Toyota in 2004, Valenstein served in a number of senior finance roles with Ford Motor Company, including Ford Engine group controller, small car controller and worldwide revenue manager for Ford's Small/Medium Vehicle Center. He also served as CFO for Mazda North America Operations and in a range of business planning, product and profit-analysis management positions in the United States, Latin America and Europe.
Valenstein is a U.S. Navy veteran, serving as a Surface Warfare Officer.
He earned a bachelor of science degree in engineering at the U.S. Naval Academy and a master of business administration degree in finance at the University of Maryland.
In addition to his finance responsibilities at Toyota, Valenstein serves on the board of directors of the American Heart Association's Dallas and Los Angeles chapters, and as executive sponsor of the Toyota Veterans Association.
Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. and North America for 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands. During that time, Toyota has created a tremendous value chain as our teams have contributed to world-class design, engineering, and assembly of more than 36 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 47,000 people (more than 37,000 in the U.S.). Our 1,800 North American dealerships (nearly 1,500 in the U.S.) sold more than 2.7 million cars and trucks (2.4 million in the U.S.) in 2017 – and about 87 percent of all Toyota vehicles sold over the past 15 years are still on the road today.
Through the Start Your Impossible campaign, Toyota highlights the way it partners with community, civic, academic and governmental organizations to address our society's most pressing mobility challenges. We believe that when people are free to move, anything is possible. For more information about Toyota, visit www.toyotanewsroom.com.
SOURCE Toyota Motor North America