Toshiba Shareholders Vote Activist Investors To Board

• Toshiba Corp (OTC:TOSBF) (OTC:TOSYY) reported results from the shareholders' meeting, where members from activist hedge funds were elected to the board.
• Elliott Management's Nabeel Bhanji and Farallon Capital Management's Eijiro Imai were elected as board members, Reuters reported.
• Akihiro Watanabe, an executive from investment bank Houlihan Lokey, becomes the board chairman.
• The report added that external director Mariko Watahiki, who opposed the election of activist investors, resigned after the vote.
• The inclusion assumes significance as the multinational corporation explores proposals for privatization.
• Recently, Toshiba said it had received eight buyout proposals to go private.
• Price Action: TOSYY shares closed lower by 0.61% at $21.08 on Monday.
• Photo Via Wikimedia Commons