Toyota shareholders voted to retain Akio Toyoda as chairman as Japan Inc comes under increasing pressure to engage shareholders to boost profitability.
Shareholders approved all 10 proposed board members at annual general meeting in Toyota City.
Japanese companies are coming increasing pressure to better engage its shareholders in improving capital efficiency and overall profitability. Shareholders also rejected proposals to seek greater disclosures on the Japanese automaker's climate lobbying, while also voting in favor of all 10 proposed members of the board at the company's annual general meeting in Toyota City.
A small number of institutional investors have agitated against the reappointment of Toyoda — a grandson of the founder of Toyota Motors — on grounds that the company's strategy of focusing on multiple fronts across hybrid, gasoline and electric vehicles has hurt their competitiveness.Ahead of the meeting, the world's largest car manufacturer said Tuesday it
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