Harvard to Limit Number of Petition Candidates Allowed to Serve on Board of Overseers to Six
International Alumni Community Rallies Around Students Scattered Across the World
A.R.T. Announces Initial Action Steps to Further Anti-Racism Commitment
FAS Adopts Interim Sexual Harassment Policy to Comply With Federal Title IX Updates
Students Question Whether Independent Review Will Change Harvard Police’s ‘Reputation for Being Bad News’
The former investment chief of Japan’s state pension fund pressured Harvard Management Company Chief Executive N.P. “Narv” Narvekar in a vote over the reappointment of an embattled electronics conglomerate chief executive, the Financial Times reported Tuesday.
In the lead-up to the company’s annual general meeting, Nobuaki Kurumatani, the chief executive of Toshiba, faced a contentious vote on his reappointment and pressure from activist shareholders unhappy with his leadership. Hiro Mizuno, former chief investment officer of the Government Pension Investment Fund and a Tesla board member, met with Narvekar in a virtual meeting in an attempt to sway his vote, according to the Financial Times.
Harvard — one of Toshiba’s largest investors — held a stake of approximately 4.5 percent in the technology company prior to the general meeting.
In the meeting, Mizuno referenced Toshiba’s connections to the Japanese government and the possibility that a vote against Kurumatani could impact HMC’s reputation, the Financial Times reported. Narvekar ultimately elected to abstain from the vote, and Kurumatani was reinstated with 58 percent support.
Singapore-based activist fund Effissimo, which holds a 10 percent stake in Toshiba, sent a survey to several other investors asking whether they had “voted in a manner inconsistent with intentions,” per the report.
HMC spokesperson Patrick S. McKiernan declined to comment on the Financial Times’s report.
—Staff writer Ellen M. Burstein can be reached at email@example.com. Follow her on Twitter @ellenburstein.
Want to keep up with breaking news? Subscribe to our email newsletter.