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Article: Seibu Railway shareholders OK new management amid protests.

Article from:
Kyodo News International (Tokyo, Japan)
Article date:
May 24, 2005
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May 24--TOKYO -- Seibu Railway Co. just managed to win approval Tuesday from its shareholders for the scandal-plagued company's new management and restructuring program amid a barrage of criticism.

As a result, the railway operator's board appointed Takashi Goto, 56, a former Mizuho Corporate Bank vice president, and Naoki Hirano, 63, a former transport ministry bureaucrat and a former vice president of West Japan Railway Co., as president and chairman, respectively.

Speaking at a debut press conference, Goto said the new management will explore avenues for reviving Seibu Railway in consideration of takeover offers expected from some investment firms and ...

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