Thompson returns to Australia after two years as a senior executive with Toyota and Lexus in the US, working as the general manager of marketing for Toyota Motor Sales USA from early 2016. For the last six months, Thompson has been working working with Lexus's US arm.
To ensure a smooth transition, Thompson and McGregor have worked closely over the last 12 months, with Thompson praising his predecessor's contribution to the company.
"Peter's leadership over two years supplemented by his extensive automotive experience have enabled the Lexus team to establish firm foundations for a healthy future," he said.
"During his tenure, Lexus Australia advanced its sales and brand image due largely to an unrelenting focus on customer experience, which is recognised as the best in the luxury-vehicle sector."
"Our Australian dealer network is poised to build on this strong sales momentum, supported by stunning new models from our parent company and the opening of new dealerships in growth corridors," Thompson added.
Thompson, 45, is a former cricketer with the NSW Blues, who first joined Toyota Australia in 2003. In the five years prior to his stint in the US, he was leading the marketing and sales divisions of Toyota's local division.