California, New York pension funds vote against Toyota chairman

Reuters was first to report the two largest U.S. public pension funds had voted against the re-election of Toyota Motor Corp Chairman Akio Toyoda ahead of the automaker’s annual meeting later this month. Both CalPERS and the Office of the New York City Comptroller, which oversees a number of city pensions, also voted for a shareholder resolution Toyota’s board has urged investors reject intended to improved disclosure of its lobbying on climate change. The votes come after the two leading proxy advisory firms raised issues about governance at the world’s largest automaker, which holds its annual meeting June 14.