FILE PHOTO: Toyota Motor Corporation Chairman Akio Toyoda speaks during a press conference over rigging safety tests by its affiliate Daihatsu that affected 88,000 vehicles, in Bangkok, Thailand, May 8, 2023. REUTERS/Athit Perawongmetha/File Photo
"I bought Toyota shares with my retirement bonus," 84-year-old Hidenori Takahashi told Reuters, adding he believed it was the"best company in Japan" for shareholders. New York City's public-employee pension funds agrees and is voting against Toyoda's re-election. Michael Garland, who oversees corporate governance for the funds, said the vote against Toyoda was driven by safety and compliance concerns.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 shareholding and return on equity.
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