Toshiba Chairman Faces Vote for Survival as Opposition Grows
- Nagayama seeks re-election at Friday’s shareholder meeting
- Chairman has vowed to turn around struggling conglomerate
Photographer: Patrick T. Fallon/Bloomberg
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Toshiba Corp. Chairman Osamu Nagayama will seek to convince shareholders Friday he deserves another chance to try and overhaul the 145-year-old nuclear energy to electronics conglomerate.
The 74-year-old is trying to win enough investor votes to stay at the helm of the crisis-stricken Japanese icon, which is under fire from corporate governance experts after an independent investigation uncovered alleged collusion with top government officials to influence last year’s board selection. On Friday, shareholders meet in Tokyo to vote on his and several other directors’ re-appointment, and analysts expect Nagayama to squeeze through by a narrow margin.