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.