TOYOTA CITY, Japan — In the auto industry these days, it's good to be Toyota – and not just because its sales are soaring.
At the company's annual general meeting in Toyota City on Friday, executives were thanked and praised by shareholders, including a local woman who was literally moved to tears as she told the gathering how proud she was to be a resident of the city named after the world's biggest auto maker.
“I don't have any question. I just want to thank you for the wonderful work you are doing,” said the woman, voice quivering as she fought back tears in the presence of over 2,500 fellow investors.
Shareholders meetings are typically unpleasant events for company executives, who are often subjected to long-winded queries and grilling over weak share prices or high executive remuneration.
Toyota Motor Corp.'s meeting, which wrapped up in under two hours, stood in contrast to that of rival Nissan Motor Co. earlier this week when celebrity CEO Carlos Ghosn fielded more gripes, if not a thrashing, than he has in recent years including one angry shareholder's call for him to resign.
Nissan's shares have underperformed Toyota's of late as the company recorded its first profit fall under Mr. Ghosn last year.
Still, any pain Mr. Ghosn may have felt probably paled in comparison to the 12-hour session endured by his DaimlerChrysler AG counterpart Dieter Zetsche earlier this year.
© The Globe and Mail
