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Toshiba nominates Houlihan exec as chair, invites Elliott, Farallon execs to board -Breaking


© Reuters. FILE PHOTO – The Toshiba Corp logo is visible at Kawasaki’s plant in Japan on February 13, 2017. REUTERS/Issei Kato/File Photo

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.