As boardroom tensions at the struggling conglomerate exploded into a public battle over a slate of director candidates, a Toshiba Corp external director on Tuesday dismissed concerns that having two shareholder representatives would bias the board.
In an interview with Reuters on Tuesday, Jerry Black, an external director on Toshiba’s five-member nominating committee, said, “I disagree that the board is unbalanced.”
Nominees for Toshiba’s board include two nominees from hedge fund shareholders, Elliott Management and Farallon Capital Management, Nomination Committee member Masayoshi Black said in an interview with Kyodo News on Tuesday.
Black’s comment was in reference to an objection by another nomination committee member, Mariko Watahiki, to two board director candidates.
Toshiba CEO Taro Shimada declined to comment on the nominees, saying he is “not in a position to judge the nomination committee’s decisions”.
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