US News

Toshiba blames woes on former CEO’s ‘confrontational approach’ to shareholders

Published by
Reuters

(Corrects fourth paragraph to say two foreigners will be included in strategic review, not two new foreigners on board) By Makiko Yamazaki TOKYO (Reuters) -Japan’s Toshiba Corp on Monday blamed its former chief executive for fomenting a “confrontational approach” to shareholders, citing that as underlying factor in its widening governance crisis. The comment from Osamu Nagayama, the chairman of Toshiba’s board, comes after a shareholder-commissioned investigation revealed the company colluded with the Japanese government to “beat up” foreign shareholders. One shareholder has described the scan…

Read More

Facebook Comments

Check Also

When the chips are down: global shortage to keep crimping carmakers

Published by Reuters By Nick Carey LONDON (Reuters) ...

Archives