Toshiba Should Overhaul Board and Management, Major Japan Pension Fund Says

Toshiba logos at Toshiba Corp's annual general meeting in Tokyo, on June 25, 2021. Kim Kyung-Hoon/Reuters

TOKYO—Toshiba Corp’s proposal to split itself into three companies won’t solve its governance issues and the conglomerate should prioritize an overhaul of its board and management, said a senior executive at one of Japan’s largest pension funds.

Ken Hokugo, corporate governance director at the Pension Fund Association (PFA), said the interests of Toshiba management and shareholders are “not aligned.”