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Proxy firm Glass Lewis recommends vote against Toyota chairman

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TOKYO : Proxy advisory firm Glass Lewis has recommended Toyota Motor shareholders vote against re-electing Chairman Akio Toyoda at the Japanese automaker's annual general meeting in June, saying the board was not sufficiently independent.

FILE PHOTO: Toyota Motor Chairman Akio Toyoda speaks at a press conference in Bangkok, Thailand, May 8, 2023. REUTERS/Athit Perawongmetha/File PhotoTOKYO : Proxy advisory firm Glass Lewis has recommended Toyota Motor shareholders vote against re-electing Chairman Akio Toyoda at the Japanese automaker's annual general meeting in June, saying the board was not sufficiently independent.

That represented a rare rebuke in corporate Japan where board members are frequently re-elected with near unanimous shareholder endorsement.

 

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