Sapporo rejects management proposed by its largest shareholder

At an annual shareholders meeting, shareholders also elected all ten candidates proposed by Sapporo, the company said.

Steel Partners had been calling on shareholders to back its slate of ten candidates, four of whom were also included in the beer maker’s list.

Steel Partners, the largest shareholder in Sapporo with an 18 percent stake, has repeatedly criticised the firm’s management for its poor business performance.