Finance
Advisory firm Glass Lewis backs Toyota chairman re-election
Published by Global Banking & Finance Review®
Posted on May 24, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 24, 2025
1 min readLast updated: January 23, 2026
Glass Lewis and ISS recommend re-electing Toyota Chairman Akio Toyoda, reversing previous opposition amid governance concerns.
TOKYO (Reuters) - Advisory firm Glass Lewis has recommended shareholders re-elect Toyota Motor Chairman Akio Toyoda at this year's annual general meeting in June.
Glass Lewis had recommended that shareholders vote against his re-election the past two years. Toyoda's position at the automaker has come under scrutiny over governance concerns.
Toyoda, the grandson of the company's founder and previously its chief executive, has seen shareholder support slip in recent years. He was re-elected to the board with backing from 72% of the shareholders in 2024, down from 85% and 96%, respectively, in the prior two years.
In a July 2024 interview by the automaker's own news outlet, Toyoda said that his seat on the board could be at risk if shareholder support continued to fall. He said then that the 2024 result marked the lowest support rating ever for a director in Toyota's history.
In addition to Glass Lewis, proxy adviser Institutional Shareholder Services (ISS) has also recommended shareholders re-elect Toyoda this year, in contrast to last year when it recommended a vote against him.
(Reporting by Daniel Leussink; Writing by David Dolan; Editing by Sandra Maler and Leslie Adler)
Glass Lewis recommended that shareholders re-elect Toyota Motor Chairman Akio Toyoda at this year's annual general meeting in June.
Shareholder support for Toyoda has slipped in recent years, with him being re-elected to the board with backing from only 72% of shareholders.
In a July 2024 interview, Toyoda mentioned that his seat on the board could be at risk if shareholder support continued to fall.
In addition to Glass Lewis, the proxy adviser Institutional Shareholder Services (ISS) also recommended shareholders re-elect Toyoda this year.
Last year, ISS recommended that shareholders vote against Toyoda's re-election, contrasting with its support this year.
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