The development assumes significance since it marks the first signs of dissatisfaction among foreign funds which had bought into Toshiba in 2017.

On Friday, the Wall Street Journal has reported citing sources familiar with the matter at hand, King Street Capital Management LP, a U.S. hedge fund has proposed a shakeup in Toshiba’s board by placing new independent directors in it.

The development marks the first signs of dissatisfaction among foreign funds which had bought into Toshiba in 2017, reported the WSJ.

King Street Capital Management LP is the third largest shareholder in Toshiba and has a stake of 5.23%.

While Toshiba declined to comment, King Street did not immediately respond to requests for comment.

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Tags: board of directors, dissatisfaction, foreign funds, hedge fund, independent directors, indications, King Street Capital Management, shakeup, shareholders, shareholding, signs, stake, Toshiba