Akio Toyoda was reappointed as Toyota’s chairman at its annual meeting on June 18, despite facing significant opposition. Two prominent proxy groups had recommended voting against his reappointment, and some shareholders expressed concerns over his continued control of the company. The automaker has been embroiled in a testing scandal, leading to calls for greater accountability. Despite the pressure, Toyoda, who ran Toyota for 14 years before stepping down as CEO last year, received wide support from domestic shareholders, though there was notable pressure from overseas investors. Toyota's stock was down 2.0% pre-market, according to Reuters.
BREAKING: Toyota Chairman Akio Toyoda reelected despite calls for accountability. https://t.co/QKaZPEi4T5
BREAKING: Akio Toyoda, grandson of Toyota founder, wins shareholders' approval to stay in leadership https://t.co/ZGsnKq1ftj
Akio Toyoda, grandson of Toyota Motor Corp's founder, wins shareholders' approval to stay at automaker's helm, reports AP
Akio Toyoda was reappointed as Toyota’s chairman at its annual meeting, but the Japanese carmaker faced tough questions from shareholders over governance and an ongoing probe of vehicle safety certifications https://t.co/TrNXLmmlVN
Toyota holds AGM under pressure from overseas, but with wide support at home https://t.co/mFBmenjz7Q https://t.co/7lu6vfVPHf
Akio Toyoda ran Toyota for 14 years before handing the reins to a new CEO last year, but some have grown concerned about the control he still wields. Some investors said they planned to vote against his re-election to the board of directors. https://t.co/4TKnhTna0k
$TM (-2.0% pre) At Toyota shareholder meeting, all eyes on level of support for chairman - Reuters https://t.co/A5F93WwaWP
At Toyota shareholder meeting, all eyes on level of support for chairman https://t.co/94IKSuP30X
🔵 AT TOYOTA SHAREHOLDER MEETING, ALL EYES ON LEVEL OF SUPPORT FOR CHAIRMAN Toyota Motor Chairman Akio Toyoda may be in no danger of not being re-elected at the automaker's annual general meeting on Tuesday, but any further big drop in shareholder support could lead to… https://t.co/BRrhWnJGbO
Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal https://t.co/4QbjbehGXO
Toyota Shareholders Demand Vote against Chairman Toyoda as Automaker Embroiled in Testing Scandal https://t.co/QBDsr08jgk
Two prominent proxy groups recommend voting against the board reappointment of Akio Toyoda ahead of Toyota's general shareholder meeting June 18. https://t.co/5yf7fgqJ3X
Toyota has been rocked by a string of scandals — but analysts are unfazed https://t.co/dcpD8hggyO