K Line shareholder rebellion fails to unseat bosses
K Line’s chairman and its CEO have managed to keep hold of their jobs despite some shareholders wanting to remove the bosses of the Japanese liner.
Shareholders led by Singaporean firm Effissimo Capital Management had tried to remove the CEO Eizo Murakami and chairman Jiro Asakura, as they are unhappy with the company’s profitability.
After news broke that the attempt had failed, the company’s share price from around(US$2.56) Y285 to close to Y275 (US$2.47).
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