At Toshiba, Activist Investors Finally Get a Seat at the Table

A little last-minute drama hasn’t derailed Toshiba plan to remake itself. Now the company and its shareholders must work together toward the finish line, overcoming years of distrust.

Shareholders at the Japanese industrial icon on Tuesday voted to approve two directors nominated by activist investors, a rare feat in the country. The result shouldn’t be surprising, given that shareholders have made their displeasure clear again and again over the past few years: They ousted the chairman last year and most recently, voted against the company’s proposal to split into two in March.