– Five director candidates nominated by activist shareholders get voted down at annual general meeting.discloses more than 1,000 postal voting forms for its AGM went uncounted. The bank that counted the votes, Sumitomo Mitsui Trust Bank, later reveals widespread failure to count all valid votes at AGMs of client firms over past two decades.– Shareholders approve an independent investigation into allegations that investors were pressured ahead of the previous year’s AGM.
– CEO Satoshi Tsunakawa resigns. Taro Shimada, a former Siemens AG executive who joined in 2018, appointed as interim CEO to proceed with the spin-off plan.– Shareholders vote against spin-off plan. A separate motion backed by activist shareholders that called for the conglomerate to solicit buyout offers also fails to pass.sets up a special committee to resume a strategic review that could see it taken private.Toshibareceives eight buyout proposals.
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