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.
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