Activist investor renews pressure on K Line
The US-based investment advisory firm Institutional Shareholder Services has renewed its earlier calls for the top management of the smallest of the top three Japanese shipping lines to step down, citing underperformamce. The company acknowledges the poor return on equity, but maintains structural changes are in place to improve future performance and the continued leadership of the executives is critical to this
In response, K Line said the leadership provided by both executives is necessary to improve the company’s performance in unstable market conditions and their continued presence is essential to improving corporate value