Toshiba proposes outsider-heavy board, interim CEO to stay
TOKYO (Reuters) - Toshiba Corp <6502.T> proposed adding a new slate of outsiders to take a majority of seats on its board of directors, aiming to bolster governance of the laptops-to-nuclear conglomerate following a $1.2 billion accounting scandal.
It also proposed keeping interim President Masashi Muromachi in his role on a more permanent basis, confirming media reports, opting to maintain stability but possibly disappointing some investors who hoped for a new leader.
Toshiba will seek approval of the candidates at an extraordinary shareholders' meeting in late September.
The company said it was likely to report a net loss for its latest financial year ended in March. It also estimated an operating profit of 170 billion yen ($1.4 billion) for the year.
(Reporting by Edmund Klamann and Taiga Uranaka; Editing by Chris Gallagher)
