URGENT: Toshiba shareholders reject reappointment of two directors

Economy

Toshiba Corp. shareholders on Friday rejected the reappointment of two directors, including the chairman of the board, in a blow to the Japanese industrial conglomerate as it negotiates another governance scandal. At an annual general shareholders' meeting, Toshiba board chairman Osamu Nagayama and Nobuyuki Kobayashi, a member of the firm's audit committee responsible for oversight, had their nominations voted down. Nagayama had faced calls from some investors to resign after Toshiba was found to have colluded with the government in pressuring activist overseas shareholders.

Kyodo News

Kyodo News