Toshiba Shareholders Vote Activist Investors To Board

by Shivani Kumaresan, Benzinga Staff Writer

June 28, 2022 7:37 AM | 1 min read | Make a Comment

Toshiba Corp TOSBF TOSYY reported results from the shareholders' meeting, where members from activist hedge funds were elected to the board.
Elliott Management's Nabeel Bhanji and Farallon Capital Management's Eijiro Imai were elected as board members, Reuters reported.
Akihiro Watanabe, an executive from investment bank Houlihan Lokey, becomes the board chairman.
The report added that external director Mariko Watahiki, who opposed the election of activist investors, resigned after the vote.
The inclusion assumes significance as the multinational corporation explores proposals for privatization.
Recently, Toshiba said it had received eight buyout proposals to go private.
Price Action: TOSYY shares closed lower by 0.61% at $21.08 on Monday.
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