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The
Japanese conglomerate on Aug. 18 proposed a fresh 11-member
board with seven external directors, including Maeda, and left
vacant the chairman post, previously held by President Masashi
Muromachi.
At an extraordinary shareholders' meeting scheduled next month,
Toshiba will propose changing its corporate code to allow
external directors to head the board and preside over its
meetings, the people said, declining to be identified because
the decision remains confidential.
Previously, Toshiba stipulated that board meetings must be run
by the chairman.
Asked about the appointment, a Toshiba spokesman said the
company had yet to decide on who will head its board. Maeda
could not immediately be reached for comment.
Toshiba is due to confirm Maeda's nomination at a board meeting
on Monday, after clearance from its nomination advisory
committee, the sources said. Appointment of the new directors is
subject to shareholders' approval at the meeting in September.
Under Maeda's watch as Shiseido president, the cosmetics company
brought in external directors for the first time in a move aimed
at strengthening its corporate governance.
(Reporting by Reiji Murai; Writing by Chang-Ran Kim; Editing by
Miral Fahmy)
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