By River Davis


Toyota Chairman Akio Toyoda was re-elected to the automaker's board, though his approval rating took a hit after some European and U.S. investor groups sought to oust the longtime leader.

Toyoda's renomination earned 85% support at the automaker's annual shareholder meeting, Toyota said Thursday. That was a drop from last year's 96% approval rating but far exceeded the majority required for re-election.

Some non-Japanese shareholders called for Toyoda's ouster, citing governance issues and the role they say he played in keeping the automaker from going all-in on EVs.

A shareholder proposal to make Toyota management reveal more about the automaker's climate-related lobbying activities earned 15% support, falling short of the two-thirds majority required for the resolution to be approved.

Write to River Davis at river.davis@wsj.com


(END) Dow Jones Newswires

06-15-23 0326ET