Toyota Chairman Akio Toyoda receives rare rebuke from investors

Investor backing for Toyota Motor’s long-serving leader, Akio Toyoda, has dipped to its lowest level since he assumed leadership as shareholders scrutinise his influence over the company.

According to recent disclosures, 71.9 percent of shareholders supported Toyota’s reappointment as chairman of the Board. Although meeting the required threshold, this represents the lowest level of support he has received since at least 2010, following his first full year as CEO.

Traditionally, Japanese Board members enjoy near-unanimous support, and Toyoda, whose grandfather founded Toyota, typically received over 96 percent approval in past years. However, recent trends show shareholders increasingly using their votes to push for enhanced profitability and governance.

Before Toyota’s recent shareholder meeting, The New York Times reported that major investors planned to vote against Akio Toyoda’s reappointment, citing concerns over governance lapses highlighted by mishandled vehicle tests.

While this lower approval rating is unlikely to prompt Toyoda to step down, it may lead to a more subdued public profile for him moving forward.