TOKYO, Reuters – Toshiba Corp (OTC) has nominated two executives from its largest hedge fund shareholders to its board of directors. This could be a significant turning point in a lengthy battle between Toshiba Corp and activist shareholders.

Toshiba also nominated Akihiro Watanabe, an executive at M&A advisory firm Houlihan Lokey (NYSE:), as board chairperson, a key post as the company undertakes a fresh strategic review.