Toshiba’s board shake-up is a sign of activist shareholders’ growing influence in Japan
TOKYO—Toshiba Corp. said it was proposing to replace a majority of its board and add more international business leaders, acceding to demands made by foreign shareholders in the latest sign of activist shareholders’ growing influence in Japan.
Toshiba’s list of candidates didn’t include Brian Higgins, co-founder of New York-based hedge fund King Street Capital Management LP, which has a 5.4% stake in Toshiba. In March, King Street said it intended to nominate a slate of independent directors, including Mr. Higgins, to replace...
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