Toyota Chairman Akio Toyoda Gains Support From Advisory Firm Glass Lewis

Advisory firm Glass Lewis has recommended that shareholders re-elect Toyota Motor Chairman Akio Toyoda at this year’s annual general meeting, marking a shift from its stance over the past two years.

Previously, the advisory firm urged shareholders to vote against Toyoda due to governance concerns. Toyoda, grandson of the company’s founder and former CEO, has experienced a decline in shareholder support, receiving 72% backing in 2024 compared to 85% and 96% in prior years. He acknowledged the declining support in a July 2024 interview, noting the 2024 vote was the lowest support for a Director in Toyota’s history. Institutional Shareholder Services has also recommended Toyoda’s re-election this year, reversing its position from last year. The shareholder meeting is scheduled for June.