CEO at Kadokawa, Japan's 'Elden Ring' powerhouse, survives shareholder vote

CEO at Kadokawa, Japan's 'Elden Ring' powerhouse, survives shareholder vote TOKYO, June 24 : Japanese media powerhouse Kadokawa said on Wednesday that its CEO had secured enough support from shareholders to stay on as a board member despite an activist investor campaign calling for him to step down. The exact level of support for Chief Executive Takeshi Natsuno at Kadokawa's annual general meeting was not disclosed. While Kadokawa's "Elden Ring" video game franchise has been a smash hit, Natsuno has faced criticism for declining profitability over his tenure since 2021. In May, Hong Kong-based activist investor Oasis Management, now Kadokawa's largest shareholder with a 15.25 per cent stake, called upon shareholders to vote him out, gaining support from proxy advisors ISS and Glass Lewis.