In a rare wholesale change of its governing board, Fujitsu Ltd said two-thirds of its directors will step down in the aftermath of an unusual public feud with its former president, raising questions among analysts and the Tokyo stock exchange about the tech giant’s governance.
It is an unusual case of a major Japanese company overhauling its board, because of the importance placed on continuity and knowledge of a company’s businesses and strategies in Japan.
"Over the past decade, I have never heard of such a huge board-member reshuffle at a listed company," said Toshiaki Izeki, a professor of policy management at Japan’s Keio University.
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(Source: The Wall Street Journal Online)