TOKYO — U.S. proxy advisory firm Glass Lewis has recommended that shareholders vote against the reelection of Toyota Motor Chairman Akio Toyoda as a director, holding him responsible for what it claims is a lack of independence at the Japanese automaker’s board.
The company also advised against voting for three auditor candidates, asserting the lack of independent auditors and concerns about their ability to perform an adequate oversight role. Toyota holds its annual shareholders meeting June 14.
