Koito Cancels Pickens’ Factory Tour, Cites ‘Slanderous Charges’
Koito Manufacturing, upstaged by Texas oilman T. Boone Pickens at its annual meeting, today abruptly canceled a factory tour it had planned to give its largest shareholder.
Pickens stalked out of Japanese automobile parts maker Koito Manufacturing Co. Ltd.’s annual meeting Thursday and blasted the company for ignoring shareholder democracy.
Koito retaliated today by withdrawing an invitation for Pickens to tour one of its factories, citing what it called “slanderous and false charges” made by Pickens at the company’s shareholder meeting.
“This meeting is a farce and we no longer want to participate in a farce, so we are leaving,” Pickens said, and walked out.
The Japanese company reacted angrily today.
“Koito is outraged by these baseless and inflammatory insults. It is clear that Mr. Pickens is interested only in crude theatrics,” a Koito statement said.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
