Toshiba board, CEO blasted by Glass Lewis for poor governance
Tokyo
PROXY adviser Glass Lewis & Co has blasted Toshiba Corp's board for poor governance amid repeated scandals and recommended that investors vote against all directors at the company's shareholders meeting later this month.
In a 25-page report, the US firm detailed years of accounting troubles at the Japanese icon, clashes with accountants over financial statements, weak internal controls and management missteps that have put investors at risk of seeing their shares delisted from the Tokyo Stock Exchange.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results