Toyota shares hit 16-month high as shareholders endorse board, new EV strategy

People arrive to attend an annual shareholders' meeting for Toyota Motor in the city of Toyota, Aichi Prefecture on June 14, 2023. Toyota is under pressure from large institutional investors for chairman Akio Toyoda to step down over his lukewarm embrace of electric vehicles. Toyota shares hit a 16-month high Wednesday after shareholders voted to retain Akio Toyoda as its chairman in a broad endorsement of the company's board and renewed strategy. Shareholders also rejected proposals to seek greater disclosures on the Japanese automaker's climate lobbying, while also voting in...