An outside director at Toshiba Corp. resigned on June 28 soon after shareholders overrode her objections and approved two executives of activist investment funds for the board of the company.
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TOKYO (Reuters) - Toshiba Corp external director Mariko Watahiki tendered her resignation after a shareholder vote on Tuesday endorsing all proposed directors including two whose candidacy she had opposed, TV Tokyo reported.
Toshiba Corp. shareholders approve a proposal for appointing 13 board members, including two new members from overseas investment funds that are considered activist investors, prompting the resignation of one director critical of the new board makeup.
Two executives from overseas hedge funds were approved as new directors at Toshiba Corp. on June 28, a move that further pushes proposals to take the troubled conglomerate private.