Toshiba to flag that activist board nominees not approved unanimously -sources

By Makiko Yamazaki

TOKYO -Toshiba Corp plans to inform its shareholders that board director nominees from two of its main hedge fund shareholders weren't accepted unanimously by the nomination committee, individuals conversant in the matter mentioned on Friday.

In a uncommon transfer, the embattled conglomerate plans to incorporate the notice on the divided vote in a booklet for its annual shareholders assembly on June 28, the 2 sources mentioned, declining to be recognized as a result of the matter remains to be non-public.

Toshiba has proposed Nabeel Bhanji, a portfolio supervisor at Elliott Administration, and Eijiro Imai, managing director at Farallon Capital Administration, be given board seats, a possible turning level in a protracted battle between Toshiba and its activist shareholders.

Post a Comment

Previous Post Next Post