Shareholder backing for Toyoda slid to 72% at the company's annual general meeting last month, following proxy advisers' recommendations to vote against his reelection.
TOKYO ? Toyota Motor Chairman Akio Toyoda said he may not be reelected as a director if shareholder support for him continues to fall at the pace it did this year, according to an interview published on Monday. Shareholder backing for Toyoda slid to 72% at the company's annual general meeting last month, following proxy advisers' recommendations to vote against his reelection. That compares to the support of 85% in 2023.
'If it continues at this pace, I can't be a director next year,' Toyoda said. His support rating among foreign institutional investors was particularly weak at 34%. Ahead of the meeting, proxy advisers Institutional Shareholder Services and Glass Lewis both took issue with the way Toyota has dealt with certification testing violations. Toyoda's support among domestic institutional investors stood at around 55%, compared to 70% or more in the previous year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitfarms calls October shareholder meeting amid attempted Riot takeoverThe board of directors at Bitfarms said it would hold a meeting on Oct. 29, as requested by Riot Platforms, one of its largest shareholders amid an attempted corporate takeover.
Read more »
How to Respond to Shareholder ActivismActivist shareholders are often seen as villains by managers and boards. Their demands for strategic and organizational shifts—which can feel personal to managers—often challenge the soundness of a company’s strategy. However, leaders who treat activist shareholders solely as a risk or an annoyance are making a mistake.
Read more »
Tesla, shareholder clash over $7-billion legal fee request in Musk pay caseTesla, shareholder clash over $7-billion legal fee request in Musk pay case
Read more »
Tesla, shareholder clash over $7B legal fee request in Elon Musk pay caseFor more than three hours, two experts offered opposing testimony about the benefit created for Tesla by a Delaware judge’s January ruling that rescinded Musk’s $56-billion pay package.
Read more »
Elon Musk seeks to dismiss Twitter shareholder lawsuitX owner Elon Musk wants a New York judge to eject a lawsuit against him, claiming he misunderstood U.S. securities laws and didn't seek to defraud investors of Twitter, the previous name of the social media platform.
Read more »
Blackstone Wins Shareholder Support to Buy Hipgnosis Songs FundHipgnosis Songs Fund's sale to Blackstone for $1.6 billion was overwhelmingly approved by Hipgnosis shareholders on Monday, July 8.
Read more »