Toyoda apologizes at shareholders’ meeting




Toyota Motor Corp. president Akio Toyoda began the company’s annual general meeting by apologizing to shareholders for the recall of more than 8.5 million vehicles over safety concerns,

the

Wall Street Journal

reported.

Toyoda said he had feared he would have to resign before the U.S. congressional hearing on the safety problems. According to the report, Toyota told shareholders:

“I thought I might not come back [to Japan] with this position.”

The

Journal

report noted that while few shareholders complained about the quality issue, “some appeared to be perturbed by how Toyota handled the issue and by the recall costs that it needed to book. One shareholder told Mr. Toyoda that it was inappropriate for him to have cried in meetings with U.S. employees and other people after the hearing.”

(Source:

Wall Street Journal,

June 25, 2010.)

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