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Euromoney, June 22 2021

It is showtime. One year after Toshiba’s AGM triggered 12 months of shareholder revolt and the departure of the CEO and several other key figures, it is time for the next meeting. They will have plenty to discuss.

Toshiba’s annual general meeting will be held on Friday, marking the end of a remarkable year since the last gathering.

In that time, the company has been accused of failing to count votes properly at an AGM, pressuring large shareholders on how to vote, and a raft of corporate governance failures – all allegations confirmed by an independent investigation into the company that took place after its own shareholders demanded an inquiry.

So far, the scandal has cost the job of CEO Nobuaki Kurumatani, two senior executives and two members of the board – and it is not over yet. Among the key decisions the AGM must come to is whether chairman Osamu Nagayama gets to keep his job.

Here are five points of interest that will come to the fore on Friday.

Read the full article here

Chris Wright
Chris Wright
Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.

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