Toshiba invites foreigners to strut their stuff, says jgfarb:
Toshiba, under pressure from activist investors, said on May 13 that it had nominated seven new independent board members, including five international candidates and the company’s first non-Japanese directors in nearly 80 years.
The nominees include Paul Brough, the executive chairman of commodities trader Noble Group; Jerry Black, a senior adviser to retailer Aeon and the former chief executive of management consulting firm Kurt Salmon, and; George Zage, a senior adviser to the Asian division of hedge fund Farallon Capital.
One of the investors agitating for change at Toshiba, King Street Capital Management, had put forward its co-founder, Brian Higgins, for the board. Toshiba did not nominate him. The company also forecast 140 billion yen of profit for the year to March 2020, in line with a target set as part of its five-year plan.
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