More than 20% of Toshiba Corp shareholders opposed the election of two new board directors from activist hedge funds and a dissident external director, according to a report by Reuters.
More than 20% of Toshiba Corp shareholders opposed the election of two new board directors from activist hedge funds and a dissident external director, according to a report by Reuters.
Nabeel Bhanji, a senior portfolio manager at Elliott Management, and Eijiro Imai, managing director at Farallon Capital, both won the support if around 78% of investors with 22% voting against them. External director Mariko Watahiki meanwhile, who opposed their candidacy on the basis that their election could skew the board too much in favour of activist investors had the lowest support rate, among the 13 director nominees with 64% in favour and 26% against.
Watahiki tendered her resignation soon after the vote at the annual shareholders meeting.
