English
Japan
https://www3.nhk.or.jp/news/html/20220628/k10013692971000.html
Outside director reappointed at Toshiba Shareholders meeting immediately after the general meeting
Toshiba’s general meeting of shareholders was held on June
28th, and the personnel case of accepting two executives from the
investment fund of shareholders as outside directors was approved by majority.
However, immediately after the general meeting, an outside
director who was opposed to the appointment of the two resigned, and Toshiba is
in a situation where the management turmoil cannot be stopped.
At Toshiba's general meeting of shareholders held in Tokyo
on the 28th, as new directors, President Taro Shimada and Vice President Goro
Yanase, as well as two executives from the investment fund of shareholders who
are in conflict with the company, the personnel case of accepting was
consulted.
As the result of the vote at the general meeting, both of
the two bills submitted by the company, including this personnel case were
passed by a majority.
However, Mariko Watahiki, one of the outside directors and a
lawyer expressed they opposition to accepting two executives from shareholders.
At the general meeting of shareholders on June 28th, “I
thought that the diversity and fairness of the board of directors did not seem
to meet the balance. Toshiba has signed an agreement to welcome directors from
investment funds of major shareholders. I thought it was inadequate in terms of
information management and potential conflicts of interest.”
Watabiki was reappointed at the general meeting of
shareholders on June 28th, but according to the company, they
offered to resign immediately after the general meeting.
At Toshiba, the directors who had just been appointed at the
general meeting in June last year have offered to resign themselves and the
turmoil in management continues to be unstoppable.
On the other hand, Toshiba is soliciting strategies to
increase its corporate value, including becoming an unlisted company and has
received 10 proposals so far.
In the future, full-scale selection will proceed under the
supervision of the director appointed on June 28th.
Source: https://www3.nhk.or.jp/news/html/20220628/k10013692971000.html
