TD Investors Meet as Probe, CEO Succession Fuel Frustration
- Lack of heir apparent is said to stoke managers’ frustration
- Salom, Ahmed and Chun are seen as among potential contenders
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Toronto-Dominion Bank is confronting shareholders at a moment when investors and executives alike are clamoring for clarity on potential penalties in a US probe and the future of the firm’s leadership.
The bank’s annual shareholders meeting on Thursday comes as the firm contends with an investigation into its anti-money-laundering controls that has derailed the lender’s growth strategy, hurt its stock and hastened questions about who might eventually rise to succeed Chief Executive Officer Bharat Masrani, 67, once he ultimately retires.