In turmoil, Toshiba splits off several officials
To improve its image in an emergency, Toshiba has just taken radical measures.
Kazuhiro NOGI AFP / File
Text by: RFI Follow
2 min
The Japanese conglomerate Toshiba is splitting off four of its managers.
A decision that comes after the publication Thursday, June 10 of a report that highlights its maneuvers to put pressure on its shareholders.
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The independent investigation by three law firms dealt Toshiba a heavy blow.
It concludes that the Japanese group had devised a plan to prevent certain activist shareholders from exercising their rights to propose resolutions at an ordinary general meeting in July 2020.
According to the survey, officials from the Ministry of the Economy, Trade and Industry are involved in these maneuvers.
These shareholders wanted to rethink the management of the group by proposing to appoint new external directors.
Proposals that were not to the taste of the current management.
Radical measures
Toshiba, which opposed the inquiry for months, finally accepted it in March under pressure from these activist shareholders.
To improve its image in an emergency, the company has just taken radical measures.
It separates from four of its managers, including two executives.
Shaken by several cases of fake accounts, the conglomerate, with this latest case, could be forced to put in place a new governance structure.
Which he has so far refused to do.
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