Toshiba 2010 Annual Report Download - page 40

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from within Toshiba Group. The three committees
all have a majority of outside directors, and the
Nomination Committee and Compensation
Committee are both chaired by outside directors.
All four outside directors are independent
directors, as set out under the Securities Listing
Regulations of the Tokyo Stock Exchange.
Toshiba adopted the Company with Committees
system as a means to improve management
mobility, enhance management supervisory
functions, and increase transparency. The board
now has 14 directors, and seven of them are non-
executive officers; four outside directors, the
chairman of the board, and two full-time auditors
Toshiba Group promotes corporate governance based on the fundamental policy
and objectives of enhancing management effi ciency, increasing transparency, and
maximizing corporate value from the shareholders’ perspective.
Toshiba’s Governance System
Corporate Governance
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TOSHIBA’S CORPORATE GOVERNANCE INITIATIVES
Q. Please explain Toshiba’s attitude toward corporate governance, and areas where you think you can
make a contribution as an outside director.
A. I feel that Toshiba’s management is willing to take the initiative in carrying out
thorough compliance measures and ensuring highly transparent management.
Through my experience as a judge and in private practice, I believe that simply
maintaining internal company regulations is not enough for effective corporate
governance and compliance with laws and regulations: Toshiba must improve
the awareness and sensitivity of each and every employee, and establish a
flexible system that organically binds together every employee. For this to
happen, the ability to communicate with one another must be improved. As
Toshiba promotes further globalization, I will propose various measures to
effectuate a compliance system that adapts to a changing business environment
and achieves success.
Outside Director,
Audit Committee Member
Takeo Kosugi
Corporate Governance Structure
Corporate Governance
38