Toshiba names Houlihan exective as board chair

Yomiuri Shimbun file photo
Toshiba head office in Minato Ward, Tokyo

TOKYO (Jiji Press) — Toshiba Corp. on Thursday nominated Akihiro Watanabe, chairman of merger and acquisition advisory firm Houlihan Lokey K.K., as chairman of its board of directors.

The electronics and heavy machinery maker plans to seek approval for Watanabe and 12 other board member candidates at a shareholders’ meeting set for June 28.

The candidates include five new people from outside the company, including Watanabe. Of them, two are from U.S. asset management firm Farallon Capital Management LLC and U.S. hedge fund Elliott Management Corp., both activist shareholders of Toshiba.