TOKYO -- Toshiba shareholders Wednesday approved a board with 10 of the 12 seats going to directors outside the company, sealing a win for overseas activist investors as the conglomerate continues to rebuild.
The board reached a proportion of outsiders unheard of among Japanese peers with the new lineup, which Toshiba proposed last month in response to shareholder pressure. The 10 outside directors are up from seven on the previous board, while four of the 10 hail from outside Japan.
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