Toshiba Taps Activists for Board, Boosting Odds of Buyout
- Japanese company nominates executives from Elliott, Farallon
- Ex-CEO Tsunakawa, who opposed privatization, to leave board
This article is for subscribers only.
Toshiba Corp. tapped candidates from its activist shareholders to serve as directors, increasing the likelihood of privatization as a staunch opponent of a buyout will step down from the board.
The Tokyo-based firm nominated an executive each from Elliott Management Corp. and Farallon Capital Management, it said in a statement Thursday. Former Chief Executive Officer Satoshi Tsunakawa will leave the board.