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Toshiba in turmoil

Toshiba shareholders oust board chairman

Nagayama rejection at annual meeting seen as test of Japan corporate governance

Toshiba's annual general meeting was seen as a test of corporate governance.   © Reuters

TOKYO -- Toshiba shareholders have voted to remove board chairman Osamu Nagayama at an annual general meeting that was seen as a test of corporate governance in Japan.

The company's investors also removed a member of Toshiba's audit committee as the Japanese conglomerate faced shareholders for the first time since the release of an independent probe into governance at the company.

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