Toyota Motor shareholders backed Chairman Toyoda and other members of the automaker's board, despite concerns about governance raised by leading proxy advisers.
Toyota Motor shareholders backed Chairman Akio Toyoda and nine other members of the automaker's board on Tuesday, despite concerns about governance raised by two leading proxy advisers.shareholders backed Chairman Akio Toyoda and nine other members of the automaker's board on Tuesday, despite concerns about governance raised by two leading proxy advisers.
The grandson of the company's founder, Toyoda remains deeply popular among retail shareholders. He has been praised for steering the company to another year of record profits and a strong stock performance last year. While Toyoda faced little risk of not being re-elected, a big fall in his approval rating could be an embarrassment for a company that has been the world's top-selling automaker four years in a row.The automaker has been bedeviled by a spate of safety and other certification testing violations at Toyota and its group companies, including small car maker Daihatsu. Institutional Shareholder Services had taken issue with the way the automaker has dealt with problem.
In early June, Toyota said it had wrongly conducted six different vehicle certification tests in the past, including for three models that were still being sold.
Toyota Motor Corp Autos Toyota Motor Corp Akio Toyoda Chairperson Shareholder Meetings Automobile Safety Stock Markets Shareholder Rights Japan Government Vehicle Sales Road Safety Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Akio Toyoda: Toyota Chairman wins shareholders' approval to stay in leadershipToyota shareholders have voted in support of all of the company's proposals at their annual meeting, including keeping Akio Toyoda, the grandson of the Japanese automaker’s founder, as chairman of the board. Details on the vote tallies weren't immediately available.
Read more »
Toyota shareholders demand vote against chairman Toyoda over scandalThe vote expected Tuesday at the annual shareholders meeting comes after Toyota apologized recently over fraudulent certification tests for vehicles.
Read more »
Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandalToyota's chairman Akio Toyoda will be facing some disgruntled shareholders this week, as two major proxy groups demand a vote against keeping the grandson of the founder on its board.
Read more »
Toyota Chairman Akio Toyoda flipped a GR Yaris rally car during testingToyota Chairman Akio Toyoda flipped a GR Yaris rally car while testing and displayed the wrecked car at the opening of the Shimoyama R&D center.
Read more »
Toyota apologizes for cheating on vehicle testing and halts production of 3 modelsToyota Chairman Akio Toyoda has apologized for massive cheating on certification tests for seven vehicle models.
Read more »
Toyota apologizes for cheating on vehicle testing and halts production of three modelsToyota chairman Akio Toyoda has apologized for massive cheating on certification tests for seven vehicle models.
Read more »