Toyota Investors Oppose Former CEO's Board Re-Election Amid Power Concentration Worries: 'Need For More Independent Board Oversight Is Significant'
Portfolio Pulse from Benzinga Neuro
Several key investors of Toyota Motor Corp (NYSE:TM) plan to vote against the re-election of former CEO Akio Toyoda to the board of directors due to concerns over his continued influence and the need for more independent board oversight. This comes amid Toyota's recent certification crisis and Toyoda's controversial projections about the future of EVs.
June 17, 2024 | 1:29 pm
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Investors are opposing the re-election of former CEO Akio Toyoda to Toyota's board due to concerns over his influence and the need for more independent oversight. This comes amid a certification crisis and controversial EV market projections.
The opposition to Toyoda's re-election reflects significant investor concern over corporate governance and could lead to short-term stock price volatility. Additionally, the certification crisis and Toyoda's controversial EV market projections add to the uncertainty.
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