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Toshiba CEO Hopes to Vote on New Board Chairman by Year-End

   By Megumi Fujikawa 
 

Toshiba Corp. Chief Executive Satoshi Tsunakawa said Thursday that he hopes to hold an extraordinary shareholder meeting by the end of this year to pick a new board chairman.

The former chairman, Osamu Nagayama, was ousted at its June 25 annual shareholder meeting, just weeks after a report found that the company had inappropriately pressured foreign investors ahead of its July 2020 shareholder meeting.

Mr. Tsunakawa also emphasized the merits of maintaining Toshiba's status as a listed company, saying it would raise the credibility of the company, help secure human resources and let it to make appropriate investments in research and development.

"It is necessary to make very careful consideration on whether (delisting) will be the most valuable choice for every stakeholder," Mr. Tsunakawa said at a news conference.

Still, the company isn't ruling out the option of privatization as it could make long-term and flexible business strategies possible, he added. He said the company has received no new privatization proposals since it rebuffed CVC Capital Partners' offer in April.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

 
 

(END) Dow Jones Newswires

August 12, 2021 03:57 ET (07:57 GMT)

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