Akihiro Watanabe, chairman of Asia corporate finance at Houlihan Lokey, a boutique US investment bank, has been nominated with 12 other board candidates for approval at Toshiba’s annual general meeting next month.

Also among the candidates are representatives of two vocal shareholders, the hedge funds Elliott Management and Farallon Capital Management.

After a prolonged period of turmoil, Toshiba in April decided to solicit proposals on strategic alternatives, including a privatisation of the company.

Watanabe is a veteran Tokyo banker with more than four decades of experience.

He is the founder of M&A advisory firm GCA Corp, which was recently acquired by Houlihan Lokey.

Houlihan Lokey’s website says he is known for his “unique and innovative approach to creative deal making based on his extensive global advisory experience and strong knowledge of accounting and tax”.

Current board Chair Satoshi Tsunakawa will step down to become an executive adviser.

Earlier this month, Toshiba said it had received interest from a total of 10 possible buyout sponsors and investors.

The deadline for submitting proposals is May 30, and the company will announce the number of formal proposals and an overview of proposed deal structures before the company’s annual general meeting next month.