Toshiba board to hold emergency meeting on Sunday, sources say

Toshiba Corp (6502.T) directors will hold an emergency meeting on Sunday to discuss reassigning the candidates for three key board committees ahead of a June 25 shareholder meeting, two people with direct knowledge of the matter told Reuters.

The Japanese conglomerate’s board will consider reassigning the candidates for the audit, nominating and compensation committees, after major shareholder advisory firms recommended against some of the candidates, the people said.

They declined to be identified because the information is not public.

The emergency meeting comes as Toshiba has been thrown into crisis by revelations this week that management and board members colluded with the Japanese government to pressure foreign investors. read more

The people gave no further detail on the reassignment of the candidates. Toshiba said in a statement it does not disclose the schedule or topics of board meetings.

Source: Reuters