Skip to content

Toshiba Adds Activist Directors in Move Toward Privatization

  • Farallon, Elliott get board seats in shareholder vote
  • Shareholders voiced opposition to privatization during meeting
Updated on

Toshiba Corp. shareholders elected representatives of two vocal activist hedge funds to the board in a contentious meeting, bringing the scandal-tainted industrial giant a step closer to possible privatization.

Shareholders of the Tokyo-based company voted their support for all 13 director appointees, including Eijiro Imai of Farallon Capital and Nabeel Bhanji of Elliott Management Corp., at an annual meeting of shareholders on Tuesday. Angry investors shouted at management from the start of the meeting, disrupting executives’ presentations.