Toyota faces shareholder revolt over chairman seat
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 17 June 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, June 17th. I'm Julie Morgan. The chairman of Toyota is facing a challenge this week. |
| 0:16.6 | Boeing has been getting more whistleblower reports and one fed president says more evidence and more time may be needed. |
| 0:25.7 | The chairman of Japanese carmaker Toyota Motor this week faces unhappy shareholders as |
| 0:31.1 | two proxy advisors demand a vote against keeping him on its be shareholders |
| 0:35.0 | meeting |
| 0:40.0 | meeting follows a public apology by Toyota |
| 0:42.0 | for allegedly falsifying data about the performance of some cars as part of the certification process. |
| 0:49.0 | Institutional Shareholder Services, which advises investors, said in its proxy report |
| 0:54.7 | that the chairman should be considered ultimately accountable. |
| 0:58.4 | Another major shareholder proxy advisor company Glass Lewis recommended voting against the |
| 1:04.1 | reappointment of the chairman and another top executive. Glass Lewis said in |
| 1:09.4 | its proxy report that this further raises questions concerning the corporate culture which is developed |
| 1:15.1 | under the leadership of the current chairman. |
| 1:17.4 | Now I just told you about one item to look out for on Tuesday. |
| 1:21.9 | Now let's talk about another event that's happening |
| 1:24.2 | tomorrow. It's the Seeking Alpha Investing Summit. It's our first ever. You'll |
| 1:29.6 | hear from Lindsay Bell with 248 Ventures, |
| 1:32.8 | Louise Chen with Cantor Fitzgerald, |
| 1:35.4 | and Dan Ives from Wed Bush Securities, |
| 1:38.5 | just to name a few. |
| 1:39.8 | And not to mention the host of Seeking Alpha Investing Group Leaders and Analysts. |
... |
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