Toyota Motor’s longtime leader, Akio Toyoda, defended his continued deep involvement in the company’s operations on Tuesday, responding to calls by some big investors that he step back after having resigned as chief executive more than a year ago.
“Some infer that what I do and how I act is akin to cloistered rule,” Mr. Toyoda said, referring to an imperial form of government in Japan where an emperor could retain power and influence even after abdication.
“I consult with younger-generation executives and give them my advice, and if you call this cloistered rule, then I am happy to continue acting as a cloistered-government leader,” Mr. Toyoda, 68, said at a shareholder meeting at Toyota’s headquarters southwest of Tokyo.
Mr. Toyoda was responding to questions posed by several shareholders asking whether recent problems over mishandled safety tests may reflect broader governance problems within Toyota, including insufficient checks and balances on management.
Persons:
Akio Toyoda, Mr, Toyoda, “, ” Mr
Organizations:
Toyota
Locations:
Japan, Toyota’s, Tokyo