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Toshiba s chairman resists calls to resign, to bring in new directors
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ISS recommends voting against Toshiba directors
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Toshiba to Drop Two Board Members as Shareholders Demand Action
Bloomberg 3 hrs ago © Bloomberg Toshiba Surges 18% Limit After CVC Capital Makes Buyout Offer
(Bloomberg) Toshiba Corp. said it will drop two existing directors from its board as major shareholders demanded accountability after a probe showed unfair practices in last year’s selection process.
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The conglomerate won’t put forward the names of Junji Ota and Takashi Yamauchi for another term, it said in a statement after a special meeting on Sunday. It also won’t reappoint executive officers Masayasu Toyohara and Masaharu Kamo, the company said.
A independent probe showed Toshiba sought government help in an attempt to influence a key shareholder vote that installed its slate of directors. The company “devised a plan to effectively prevent shareholders” from exercising their rights at a July 2020 meeting, working with Japan’s trade ministry to counter activist investors, according
Advisory firm ISS recommends vote against Toshiba chairman - Netscape Money & Business
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