Reported 10 months ago
Despite recent scandals related to corporate governance and certification tests, Akio Toyoda was successfully re-elected as the president of Toyota during the shareholders' meeting held on June 18 in Japan. Investors were not deterred by the controversies, and Toyoda, along with other 9 members of the board, retained their positions. With Toyota Group's strong support, record-breaking performance, and Toyoda's popularity among Japanese retail investors, his re-election was widely anticipated. Despite a new scandal causing a 10% stock drop, Toyota's share price has risen by 18% this year. The opposition to Toyoda is mainly believed to come from overseas investors, who account for 1/4 of Toyota's shareholders.
Source: YAHOO