Stock Market News

Toyota shareholders vote down climate resolution, show support for management

2023.06.14 09:17


© Reuters. Toyota (TM) shareholders vote down climate resolution, show support for management

Toyota (NYSE:) shareholders handed the Japanese company a win at their shareholder’s meeting today when investors voted down a resolution urging greater disclosure of its climate lobbying. Investors also backed all 10 members of the board, including Chairman Akio Toyoda, despite concerns about board independence raised by prominent U.S. proxy advisers. The breakdowns of both votes won’t be released until Thursday.

Toyoda, the grandson of the company’s founder, was re-elected with 96% support last year.

The climate resolution, submitted by Danish pension fund AkademikerPension and two other European asset managers, sought to force Toyota to disclose additional information concerning its lobbying efforts concerning climate change.

The resolution was widely expected to fail after Toyota’s board advised shareholders to vote against it. The automaker’s management traditionally receives substantial backing from shareholders, including various group companies and suppliers.

The shareholder meeting took place just one day after the automaker revealed its ambitious roadmap for electric vehicles involving solid-state batteries and radical production changes, signaling to investors the company’s intention to capture a big slice of EV market share.

“I believe that Toyota today can manage its business with a sense of speed,” Toyota CEO Koji Sato told shareholders.

Shares of TM are up 4.84% in pre-market trading on Wednesday after jumping over 5% on Tuesday.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,932.22 0.38%
ethereum
Ethereum (ETH) $ 1,935.28 1.51%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.29 0.35%
bnb
BNB (BNB) $ 616.73 1.60%
solana
Solana (SOL) $ 125.08 0.36%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.706768 0.00%
dogecoin
Dogecoin (DOGE) $ 0.168692 0.29%
tron
TRON (TRX) $ 0.241059 8.56%
staked-ether
Lido Staked Ether (STETH) $ 1,935.18 1.64%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,730.17 0.40%
leo-token
LEO Token (LEO) $ 9.78 0.04%
chainlink
Chainlink (LINK) $ 13.92 0.31%
the-open-network
Toncoin (TON) $ 3.55 2.99%
stellar
Stellar (XLM) $ 0.278214 3.64%
usds
USDS (USDS) $ 1.00 0.03%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,313.33 1.34%
pi-network
Pi Network (PI) $ 1.16 8.50%
hedera-hashgraph
Hedera (HBAR) $ 0.187448 0.27%
avalanche-2
Avalanche (AVAX) $ 19.10 2.38%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.25%
sui
Sui (SUI) $ 2.31 1.87%
mantra-dao
MANTRA (OM) $ 7.04 0.84%
polkadot
Polkadot (DOT) $ 4.49 4.62%
litecoin
Litecoin (LTC) $ 90.43 0.33%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.37 0.03%
bitget-token
Bitget Token (BGB) $ 4.59 3.55%
ethena-usde
Ethena USDe (USDE) $ 0.999644 0.03%
weth
WETH (WETH) $ 1,933.81 1.40%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.997417 0.32%
hyperliquid
Hyperliquid (HYPE) $ 13.97 6.87%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,055.11 1.49%
whitebit
WhiteBIT Coin (WBT) $ 28.14 1.00%
uniswap
Uniswap (UNI) $ 6.40 3.31%
monero
Monero (XMR) $ 207.17 0.93%
susds
sUSDS (SUSDS) $ 1.04 0.14%
aptos
Aptos (APT) $ 5.45 3.63%
dai
Dai (DAI) $ 1.00 0.06%
okb
OKB (OKB) $ 52.84 2.26%
near
NEAR Protocol (NEAR) $ 2.59 0.25%
pepe
Pepe (PEPE) $ 0.000007 0.32%
internet-computer
Internet Computer (ICP) $ 5.84 0.12%
ethereum-classic
Ethereum Classic (ETC) $ 18.05 2.68%
mantle
Mantle (MNT) $ 0.808029 1.80%
gatechain-token
Gate (GT) $ 22.04 0.77%
ondo-finance
Ondo (ONDO) $ 0.840287 0.05%
aave
Aave (AAVE) $ 172.03 0.32%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,942.22 0.35%
tokenize-xchange
Tokenize Xchange (TKX) $ 31.12 5.40%