CORRECTED: Toshiba shareholders OK 2 new activist investors as board members

Economy

Toshiba Corp. shareholders on Tuesday approved a proposal for appointing 13 board members, including two new members from overseas investment funds that are considered activist investors. Under the new management, the Japanese conglomerate with a nearly 150-year history is expected to hasten steps to revamp itself, including going private amid frustration among investors by its lackluster efforts to raise corporate value. Six of the 13 approved for the board of directors at Tuesday's regular shareholders meeting come either from investment funds or at their recommendation, including the newly ...

Kyodo News

Kyodo News