'Deeply disturbing' Toshiba report points to powerful figures japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.
FILE PHOTO: The logo of Toshiba Corp. is seen at the company s facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon
TOKYO: 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.
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.
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.
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.
Toshiba apologizes to shareholders after probe showed firm influenced vote japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.
Institutional Shareholder Services Inc. is recommending a vote against five Toshiba Corp. board members following an independent probe that showed the company sought government help in an attempt to influence a key shareholder vote that installed its slate of directors.