George Borst is a name that is synonymous with Toyota’s success in the United States. He is a seasoned automotive executive with a career spanning over four decades. George’s influence on Toyota’s growth in the US market cannot be overstated. This article will explore George Borst’s life and career, his role in Toyota’s success, and his philanthropic work.
Early Life and Career of George Borst
George Borst was born on October 26, 1945, in Bergenfield, New Jersey. He grew up in a working-class family and attended Bergenfield High School. After graduating, George went on to study at Rutgers University. He earned a Bachelor of Science degree in Economics in 1967.
After completing his studies, George started his career in the automotive industry at Ford Motor Company. He worked in various roles, including sales and marketing. In 1975, George joined General Motors as a district manager. He spent 14 years at GM, working his way up to become the General Sales Manager of the Oldsmobile division.
George’s experience in the automotive industry caught the attention of Toyota. In 1989, he joined Toyota Motor Sales USA, Inc. as Vice President of Sales. He quickly rose through the ranks and became the Executive Vice President of Toyota Motor Sales USA in 1996.
Rise to Prominence at Toyota
George Borst’s tenure at Toyota was marked by significant achievements. He was instrumental in establishing Toyota Financial Services (TFS) in the US market. TFS was established in 1983, but under George’s leadership, it grew exponentially. TFS became the largest captive finance company in the automotive industry, providing financing and leasing services to Toyota dealers and customers.
George also played a crucial role in Toyota’s success in the US market. He oversaw the launch of several successful models, including the Toyota Camry and the Toyota Tundra. Under his leadership, Toyota’s market share in the US grew significantly, making it one of the most successful automakers in the country.
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Appointment as CEO of Toyota Financial Services
In 2001, George Borst was appointed as the CEO of Toyota Financial Services (TFS). Under his leadership, TFS continued to grow and expand its operations. George was known for his innovative approach to financial services. He introduced several new products and services, including extended warranties and gap insurance, that became popular among Toyota customers.
George’s leadership at TFS was also marked by a focus on customer service. He emphasized the need for TFS to provide exceptional service to Toyota customers and dealers. This approach helped TFS to build a strong reputation in the industry and contributed to Toyota’s overall success.
Legacy of George Borst at Toyota
George Borst’s legacy at Toyota is one of growth, innovation, and success. He played a crucial role in establishing Toyota’s presence in the US market and helped the company to become one of the most successful automakers in the country.
George’s contributions to Toyota’s financial services arm were particularly significant. He helped to establish TFS as a leader in the industry and introduced several new products and services that became popular among Toyota customers.
George’s influence on Toyota’s corporate culture was also significant. He emphasized the importance of customer service and innovation, values that continue to shape Toyota’s approach today.
In addition to his contributions to Toyota, George Borst was also known for his philanthropic work. He was involved in several charitable organizations and established the George Borst Cancer Research Fund to support cancer research.
In conclusion, George Borst’s impact on Toyota’s success in the US market cannot be overstated. His leadership and innovative approach to financial services helped to establish Toyota as one of the most successful automakers in the country. George’s legacy at Toyota continues to be felt today, and his contributions to the industry will be remembered for years to come.
Philanthropic Work of George Borst
George Borst was not only a successful automotive executive but also a philanthropist. He was involved in various charitable organizations and initiatives that aimed to improve the lives of people in his community.
One of his major contributions was to education and healthcare initiatives. George was a member of the Board of Trustees at Bergen Community College and actively supported the institution’s efforts to provide affordable education to students in the region. He also served on the Board of Trustees at Hackensack University Medical Center and supported the hospital’s efforts to provide quality healthcare to patients.
In addition to his involvement in education and healthcare, George also established the George Borst Cancer Research Fund. The fund aimed to support cancer research initiatives and provide financial assistance to patients who could not afford treatment.
George Borst’s contributions to Toyota’s success in the US market are immeasurable. His leadership and innovative ideas helped establish Toyota as one of the most successful automakers in the country. George’s legacy at Toyota will be remembered for years to come.
In addition to his contributions to the automotive industry, George was also a philanthropist who worked tirelessly to improve the lives of people in his community. His involvement in various charitable organizations and initiatives aimed to make a positive impact on society.
Overall, George Borst was a remarkable individual whose achievements and legacy will continue to inspire future generations of automotive executives and philanthropists.