<p>Japan's Toshiba Corp on Monday blamed its former chief executive for fomenting a "confrontational approach" to shareholders, citing that as underlying factor in its widening governance crisis.</p>.<p>The comment from Osamu Nagayama, the chairman of Toshiba's board, comes after a shareholder-commissioned investigation revealed the company colluded with the Japanese government to "beat up" foreign shareholders.</p>.<p>One shareholder has described the scandal as the biggest corporate scandal in a decade.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/international/darkside-hackers-in-focus-after-toshiba-attack-985818.html" target="_blank">DarkSide hackers in focus after Toshiba attack </a></strong></p>.<p>Nagayama, who apologised to shareholders, also told a news conference broadcast online that it will hold an emergency general meeting to appoint new board members and wants to include two foreigners among new directors.</p>.<p>"There was a somewhat confrontational stance towards shareholders brewing from some time ago," Nagayama said, when asked about the responsibility of former CEO Nobuaki Kurumatani.</p>.<p>"That's an underlying cause in one sense for the current state of affairs," Nagayama said.</p>.<p>It was not immediately clear if that admission would be enough to win over shareholders.</p>.<p>The crisis at Toshiba has renewed concern about governance in the world's third-largest economy and its openness to foreign investors. </p>
<p>Japan's Toshiba Corp on Monday blamed its former chief executive for fomenting a "confrontational approach" to shareholders, citing that as underlying factor in its widening governance crisis.</p>.<p>The comment from Osamu Nagayama, the chairman of Toshiba's board, comes after a shareholder-commissioned investigation revealed the company colluded with the Japanese government to "beat up" foreign shareholders.</p>.<p>One shareholder has described the scandal as the biggest corporate scandal in a decade.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/international/darkside-hackers-in-focus-after-toshiba-attack-985818.html" target="_blank">DarkSide hackers in focus after Toshiba attack </a></strong></p>.<p>Nagayama, who apologised to shareholders, also told a news conference broadcast online that it will hold an emergency general meeting to appoint new board members and wants to include two foreigners among new directors.</p>.<p>"There was a somewhat confrontational stance towards shareholders brewing from some time ago," Nagayama said, when asked about the responsibility of former CEO Nobuaki Kurumatani.</p>.<p>"That's an underlying cause in one sense for the current state of affairs," Nagayama said.</p>.<p>It was not immediately clear if that admission would be enough to win over shareholders.</p>.<p>The crisis at Toshiba has renewed concern about governance in the world's third-largest economy and its openness to foreign investors. </p>