On June 18th, Toyota Motor held its 2024 shareholder meeting at its headquarters in Toyota City, Aichi Prefecture, Japan. Akio Toyoda was re-elected as the chairman of the board of directors, along with nine other board members, including Vice Chairman Shigeru Hayakawa, President Koji Sato, Executive Vice President Hiroki Nakajima, and Director Yoichi Miyazaki. On June 19th, the support rate results were announced, showing that more than a quarter of Toyota Motor shareholders opposed Akio Toyoda's re-election, and its support rate hit a new low of 71.93%, significantly lower than 84.57% in 2023 and 95.58% in 2022. The support rate falling by more than 10 percentage points is a red flag for Toyota's corporate governance. Since the disclosure of the fraud scandal at the beginning of the month, Toyota's stock price has dropped by 10.5%.
丰田章男再次当选董事长 但支持率创新低达71.93%
Akio Toyoda was re-elected as director, but his approval rating hit a record low of 71.93%.
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