Akio Toyoda was re-elected president of Toyota’s board of directors on Tuesday, not without complaints, as some shareholders considered him responsible for the vehicle certification scandals.
The 68-year-old president was re-elected at the annual general meeting held at the group’s headquarters in the city of Toyota (central Japan), but the approval rating will not be published until Wednesday, a spokesperson told the news agency. news France- Press.
However the The result may be lower than last year. (85%) and even more than in previous years, when he was general director.
Two large international consultancies on voting at general meetings, Glass Lewis and Institutional Shareholder Services (ISS), recommended that the shareholders of the Japanese automobile giant vote against Toyoda’s re-election this year, since they consider that the director is the main responsible. due to recent scandals.
In recent years there has been publicity irregularities in vehicle certification tests for the Japanese market within the group, first in some of its subsidiaries (Hino Motors, Daihatsu, Toyota Industries) and, since the beginning of June, in Toyota itself.
Toyota admits irregularities in power measurements in three diesel engines
Although the financial impact of these cases is not significant for the group, they damaged its image in Japan, where Toyota liked to consider itself a model of good governance.
Last year, Toyoda handed the management reins to 54-year-old Koji Sato. But some observers have noted that Akio Toyoda, grandson of the group’s founder, can still interfere in behind-the-scenes decisions.
Source: Observadora
