Toshiba Shareholders Vote Activist Investors To Board

  • 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.
  • Photo Via Wikimedia Commons

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