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 ...
TOKYO - 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 increased action on governance reforms .
"I don't assume Akio Toyoda-san is not being re-appointed," said James Hong, head of mobility research at Macquarie. "It's just that the approval rate coming down will be a bit of a yellow flag to management." Glass Lewis, which is recommending that Toyoda not be re-elected for a second year in a row, said that he is responsible for the board's lack of independence and also cited concerns about its strategic shareholdings and return on equity.
"Toyoda should be highly regarded as he delivered results and led Toyota to growth," said Koji Endo, head of equities research at SBI Securities.
Toyota Toyota Group Governance Reforms Group Companies Institutional Shareholder Services Glass Lewis Shareholder Support
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