TOKYO (JAPAN) – Lawyer Ken Siegel has received 69.77% vote by the shareholders of SoftBank Group Corp to make him a part of the conglomerate’s board. Voting was done in this week’s annual shareholder meeting.
The lower approval vote than other appointments, which need a majority in favour, comes after proxy adviser Glass Lewis urged shareholders to oppose the election due to Siegel’s professional ties to SoftBank.
By contrast, shareholders voted 99.85% in favour of SoftBank’s other new independent director, gaming executive Keiko Erikawa. Founder and CEO Masayoshi Son received 97.92%.