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Toshiba in turmoil

Toshiba shareholders hold key to board shake-up in management crisis

Farallon and Elliott executives nominated as company explores buyout

Toshiba has been weighing strategic alternatives, including a buyout, after shareholders rejected its plan to split itself in two earlier this year.   © Reuters

TOKYO -- After announcing a list of 13 candidates for the board nearly two weeks behind schedule, Toshiba now faces the next challenge of getting frustrated shareholders to greenlight the picks.

The new board, which will be put to a vote at its annual general meeting in June, will be responsible for deciding on and carrying out a turnaround plan for the embattled industrial conglomerate. But the proposed roster is raising eyebrows for granting significant sway to Toshiba's activist investors.

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