Japanese bulker shipowner Inui Global Logistics has rejected calls from a group of "activist" shareholders for the removal of company president Yasuyuki Inui.
The decision was made at an extraordinary shareholder’s meeting this week, which was called after investment firm and largest shareholder Alfa Leo Holdingsmade a series of demands that included replacing Inui.
Board pay cut
Alfa also demanded the Tokyo-listed shipowner cut directors' remuneration, boost payouts to shareholders and buy back its own shares.
