Shareholders of Toyota Motor gathered Tuesday for the automaker’s first annual meeting under new CEO Kenta Kon, voting to re-elect Akio Toyoda as chairman and formally seating Kon on the company’s board of directors.
Investors also approved the re-election of four additional directors at the meeting, held in Toyota City, Japan. The results reflect strong shareholder confidence in the direction of the world’s top-selling automaker, which has experienced growing demand for hybrid vehicles in markets including the United States and Japan.
Following the meeting, Kon spoke with reporters and said the company plans to keep putting money into growth areas. “Hitting the brakes suddenly” is not something the company intends to do, he said, as Toyota continues its strategy of investing in artificial intelligence, robotics, and a variety of powertrain technologies.
Kon, who previously served as a secretary to Toyoda before being elevated to the CEO position in April, officially joined the board at Tuesday’s meeting. Meanwhile, former CEO Koji Sato, who now holds the title of vice chairman, departed from the board.
