Akio Toyoda reelected Toyota chairman despite governance concerns

TOYOTA, Japan -- Toyota Motor weathered an unprecedented showdown with investors at its annual general meeting on Wednesday as shareholders approved former President Akio Toyoda's nomination to the board and rejected a proposal demanding better disclosure on climate lobbying activities.

Proxy advisers, U.S. pension funds and European asset managers criticized the automaker's insufficient corporate governance and environmental efforts, heaping pressure on a fledgling management team already facing intensifying industry competition in electric vehicles.