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

TOKYO (Financial Eye) – Toshiba (OTC:) Corp on Thursday nominated executives from two of its major hedge fund shareholders for board seats, potentially a turning point in a long battle between the Japanese conglomerate and its 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.