Sony Pixel Power calrec Sony

Leading Independent Proxy Advisory Firm ISS Recommends Toshiba Shareholders Vote FOR the Election of All 12 Toshiba Director Nominees

17/07/2020

Toshiba Corporation (TOKYO: 6502) today announced that Institutional Shareholder Services Inc. ( ISS ), the leading independent proxy advisory firm, has recommended that shareholders vote for all 12 of Toshiba's highly-qualified director nominees at the Company's Ordinary General Meeting of Shareholders for the 181st Fiscal Period, to be held on July 31, 2020.

As ISS stated in its independent report*1: our analysis and engagement with the company suggest that the recently reconstituted board is appropriately focused on the key issues impacting Toshiba. As such, additional change at the board level does not appear necessary.

Toshibas Board of Directors stated, We are pleased ISS has recommended that Toshiba shareholders vote for all of our highly-qualified and experienced Directors. ISS' support further validates the progress that we made last year to refresh our Board with shareholder input and our strong belief that Toshiba's slate of directors has the right mix of skills, experiences and new perspectives to provide independent oversight of the continued execution of our transformational Toshiba Next Plan (TNP). Through the TNP, we expect to deliver sustainable long-term growth and value to all of our shareholders. We encourage all of our shareholders to vote for our director nominees at our upcoming Ordinary General Meeting of Shareholders.

In making its recommendation, ISS noted:

The company is appointing a new independent chairman, and seven of the other 9 independent directors have only been at the company for one year; the two remaining independent directors have tenures of two and four years, respectively. [ ] The current directors generally appear to have relevant and diverse credentials.

[ ] the company seems to have taken appropriate actions in recent years, and the board's overhaul last year suggests it will maintain the course. [ ] the board particularly the recently elected foreign directors appear to be appropriately focused in their oversight.

It is also worth noting that while 3D Investment is seeking to replace two directors, Effissimo is proposing to add three nominees to the 12-member slate nominated by the company. Such an increase raises questions as to whether a 15-member board could become less effective as different factions compete over disparate priorities.

The Board unanimously recommends that Toshiba shareholders to vote FOR director candidates 1-12 and AGAINST candidates 13-17, as listed in our Convocation Notice.

Institutional investors and those shareholders holding shares through a custodian or intermediary should directly contact their custodian or voting platform provider for proxy voting instructions. Please be mindful that custodial vote deadlines may be very much earlier than the market deadline of 17:15 JST on 30 July 2020. Shareholders are encouraged to submit their proxy votes online through the electronic voting platform ProxyEdge operated by ICJ, Inc., if they have applied in advance to do so. Please refer to the Convocation Notice for further guidance, which can be found at https://www.toshiba.co.jp/about/ir/en/stock/meeting.htm.

*1: Permission to quote from the ISS report was neither sought nor obtained.
LINK: http://www.toshiba.co.jp/about/press/2020_07/pr1601.htm...
See more stories from toshiba

More from Toshiba

22/03/2021

Toshiba Executes Strategic Alliance Agreement and Invests in Counter-Drone Security Company Fortem Technologies, Inc.

Toshiba Corporation Toshiba Infrastructure Systems & Solutions Corporation TOK...

16/03/2021

Toshiba and Midtown Clinic Have Signed a Joint Research Agreement on microRNA Detection Technology for Early Detection of Cancer

TOKYO Toshiba Corporation (TOKYO: 6502) has executed a joint research agreement...

09/03/2021

Establishment of a Carbon Neutral LNG Buyers Alliance

Toshiba Corporation Tokyo Gas Co., Ltd. Asahi Group Holdings, Ltd. Isuzu Motors Ltd. Olympus Corporation Sakai Chemical Industry Co., Ltd. Duskin Co., Ltd...

24/02/2021

Toshiba a Clarivate Top 100 Global Innovators 2021 for Tenth Consecutive Year

TOKYO Toshiba Corporation's (TOKYO: 6502) long-standing dedication to driving forward technological innovation has once again secured its selection for the ...

19/02/2021

Toshiba Appoints Executive Officers for Each Region, Establishes Sustainability Management Division

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that it has appointed ex...

19/02/2021

Toshiba Recognized by CDP as Supplier Engagement Leader in Efforts to Counter Climate Change throughout Value Chain

TOKYO Toshiba Corporation (TOKYO: 6502) has been recognized as a Supplier Engag...

14/01/2021

Toshiba Group Publishes English Edition of Sustainability Report 2020

TOKYO Toshiba Corporation (TOKYO: 6502) today published the English edition of Toshiba Group Sustainability Report 2020, which outlines the Groups sustainabili...

16/12/2020

Toshiba Receives Rating from JCR and Withdraws from Rating by Moody's

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that it has received the rating detailed below from Japan Credit Rating Agency, Ltd. (JCR), and that it...

10/12/2020

Toshiba Awarded Highest Rating in CDP Climate Change Report 2020

TOKYO Toshiba Corporation (TOKYO: 6502) has been selected for the prestigious A List in the Climate Change Report 2020 released by CDP, the international non-...

04/12/2020

Toshiba Group Holds FY2020 Technology Strategy Briefing

TOKYO Toshiba Corporation (TOKYO: 6502) today held the Toshiba Group FY2020 Technology Strategy Briefing, where it unveiled the strategy and technologies that ...

04/12/2020

Launch of IIoT Service Portal Site TOSHIBA SPINEX Marketplace

TOKYO Toshiba Corporation (TOKYO: 6502) today opened the TOSHIBA SPINEX brand (*1) industrial IoT (IIoT) service (*2) portal site TOSHIBA SPINEX Marketplace (*...

30/10/2020

Toshiba Honored with Five Accolades at GOOD DESIGN AWARD 2020

TOKYO Toshiba Corporation (TOKYO: 6502) has clinched five*1 distinctions at the Japan's Good Design Award 2020. This annual awards sponsored by the Japan ...

19/10/2020

Toshiba launches Quantum Key Distribution (QKD) System Business

TOKYO Toshiba Corporation (TOKYO:6502) today announced it will start providing quantum key distribution (QKD) platforms and commence deployment of a system inte...

15/10/2020

Toshiba to Participate in Preparatory Group for Japan Hydrogen Association

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that the company has participated in the preparatory group for the launch of the Japan Hydrogen Associat...

23/09/2020

Toshiba Establishes a New Project Team to Secure Further Growth as an Infrastructure Services Company

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that Infrastructure Serv...

19/09/2020

Toshiba Submits Greenhouse Gas Emission Reduction Targets to Science Based Targets initiative for Validation

TOKYO Toshiba Corporation (TOKYO: 6502), in its June 5 announcement, The Toshib...

04/09/2020

Toshiba Publishes English Edition of Cyber Security Report 2020

TOKYO Toshiba Corporation (TOKYO: 6502) has published the English edition of Toshiba Group Cyber Security Report 2020, a report of cyber security policy, meas...

13/08/2020

Toshibas New R&D Complex be an Incubator for Cutting Edge Technologies, and a New Landmark for Kawasaki

TOKYO--Thanks to Toshiba Corporation (TOKYO: 6502), the Komukai district of Kawa...

07/08/2020

Toshiba a Derwent Top 100 Global Innovators 2020 for Ninth Consecutive Year

TOKYO Toshiba Corporation's (TOKYO: 6502) long-standing dedication to driving forward technological innovation has once again secured its selection for the ...

07/08/2020

Toshiba Transfers Shares in Dynabook to Sharp

TOKYO Toshiba Corporation (TOKYO: 6502) hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corp...

27/07/2020

Toshiba Published Brand Video to Introduce the Essence of Toshiba

TOKYO Toshiba Corporation (TOKYO: 6502) has released a new brand video, We are Toshiba 2020, that shines a spotlight on Toshiba Group employees around the wor...

17/07/2020

Glass Lewis Joins ISS in Recommending Toshiba Shareholders Vote FOR the Election of All 12 Toshiba Director Nominees

Toshiba Corporation (TOKYO: 6502) today announced that Glass Lewis & Co. ( Glass...

17/07/2020

Leading Independent Proxy Advisory Firm ISS Recommends Toshiba Shareholders Vote FOR the Election of All 12 Toshiba Director Nominees

Toshiba Corporation (TOKYO: 6502) today announced that Institutional Shareholder...

15/07/2020

Toshiba Groups Response to COVID-19 [video]

Updated July 15, 2020...

08/07/2020

Toshiba Establishes Compliance Advisory Meeting

TOKYO Following on from its June 5 announcement of comprehensive measures to bolster internal controls, Toshiba Corporation (TOKYO: 6502) today established a Co...

19/06/2020

Toshiba Groups Response to COVID-19

Toshiba Group is responding to the global coronavirus pandemic with measures that prioritize the safety of our employees and their families, and of our customer...

11/06/2020

The new factory for the novel coronavirus (SARS-CoV-2) antigen test kit

Miraca Holdings Inc. President and Group CEO Shigekazu Takeuchi Toshiba Corporation President & CEO Nobuaki Kurumatani Hitachi, Ltd. President & CEO Toshia...

29/05/2020

Toshiba's New Subsidiary to Advance Process Reforms of Toshiba Next Plan

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that it will establish a new wholly owned subsidiary dedicated to developing a next-generation core sys...

27/05/2020

Toshiba to Transfer Logistics Services Business to SBS Holdings, Inc.

SBS Holdings, Inc. Toshiba Corporation TOKYO SBS Holdings, Inc. (TOKYO: 2384, hereinafter SBSHD ) and Toshiba Corporation (TOKYO: 6502) today signed a share ...

16/04/2020

Reduction of Business Days in April at Toshiba Corporation and Toshiba Group Companies in Japan

In response to the Japanese government's strong request to people to observe...

30/03/2020

User Experience with New DIY style IoT ifLink Open Community

Toshiba Corporation Toshiba Digital Solutions Corporation TOKYO--Toshiba Corporation (TOKYO: 6502) and Toshiba Digital Solutions Corporation (hereinafter TDS...

23/03/2020

Toshibas SCiBTM Rechargeable Battery Selected for Mitsubishi Motors New Super Height Kei Wagon eK X space and eK space

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that Mitsubishi Motors C...

23/03/2020

Toshibas SCiBTM Rechargeable Battery Selected for Nissans ROOX

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that Nissan Motor Corporation has selected its innovative SCiB lithium-ion rechargeable battery for the...

04/03/2020

Toshiba Data Joins Smart City Aizu

Tokyo Toshiba Data Corporation (hereinafter Toshiba Data ) today announced the opening of a new branch office from this month in Aizuwakamatsu City, Fukushima ...

03/03/2020

Toshiba Names Taro Shimada to Head its Digital Solutions Business

Toshiba Corporation Toshiba Digital Solutions Corporation TOKYO Toshiba Corporation (TOKYO: 6502) and Toshiba Digital Solutions Corporation (hereinafter TDSL...

08/02/2020

Toshiba to Reorganize Subsidiaries Providing Corporate Staff Services

TOKYO--Toshiba Corporation (TOKYO: 6502) today announced that it will unify two companies that are part of its corporate staff function into a single company. T...

19/01/2020

Toshiba Reinforces Strategy Planning Function for Strategic Transformation to CPS Technology Company

TOKYO Toshiba Corporation (TOKYO: 6502) announced today that Masaharu Kamo, a f...

17/01/2020

Toshiba Publishes English Edition of CSR Report 2019

TOKYO--Toshiba Corporation (Tokyo: 6502) today announced that the English edition of the Toshiba Group Corporate Social Responsibility Report 2019 (hereinafter ...

28/11/2019

Toshiba Group Holds FY2019 Technology Strategy Briefing

TOKYO Toshiba Corporation (TOKYO: 6502) today held the Toshiba Group FY2019 Technology Strategy Briefing, where it unveiled the strategy and technologies that w...

06/11/2019

The New ifLink Open Community Will Bring IoT Solutions to More Services and Products

Toshiba Corporation Toshiba Digital Solutions Corporation Toshiba Corporation ...

06/11/2019

Toshiba Group Joins Open Invention Network Community

Tokyo Toshiba Corporation (Tokyo: 6502) announced today that Toshiba Group has joined Open Invention Network (OIN) as a community member. OIN is a community th...

29/10/2019

Toshiba Group Develops Inspection Technology for Plant Facilities and Equipment in High Inaccessible Places [video]

Toshiba Corporation Toshiba Energy Systems & Solutions Corporation TOKYO Toshi...

26/09/2019

Toshiba Group to Reorganize Management Structure of Companies Offering Corporate Staff Services

TOKYO Toshiba Group (TOKYO: 6502) has announced that it will unify four companie...

09/09/2019

Toshiba and transcosmos Agree to Share Transfer of Company Established for Business Split From Toshiba Human Asset Service Corporation

Toshiba Corporation transcosmos inc. TOKYO Toshiba Corporation (TOKYO: 6502) a...

28/08/2019

Toshiba Publishes English Edition of Cyber Security Report 2019

TOKYO Toshiba Corporation (TOKYO: 6502) has published the English edition of its Cyber Security Report 2019, the company's first publication focusing on Tos...

28/08/2019

Basic Agreement to Discuss Potential Collaboration for Nuclear Energy Business (Boiling Water Reactors)

Tokyo Electric Power Company Holdings, Inc. Chubu Electric Power Co.,Inc. Hita...

21/08/2019

Toshiba to Propose Solutions Supporting Africas Growth and Development at TICAD7

Toshiba Corporation Toshiba Energy Systems & Solutions Corporation Yokohama, Japan Toshiba Corporation (TOKYO: 6502) and Toshiba Energy Systems & Solutions Co...

09/08/2019

Notice on Media Coverage Related to Alliance in Nuclear Power Business

Tokyo A certain online publication this morning carried a report on plans for Higashidori Nuclear Power Station in Aomori prefecture, Japan, stating that Tokyo ...