Toshiba turmoil update
Toshiba board of directors member, Mariko Watahiki (a former judge) stated that the company’s plan to appoint 2 directors representing activity investor groups lack “fairness and balance” and opposes their election
- If they are elected, activists would take up too much of the board
- “it’s impossible to avoid conflicts of interest”
- They would pursue short-term profit deal only
- “should give more board seats to people who have a deeper understanding of its business’