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  "authorName": "Oasis Management Company Ltd.",
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  "notes": "The slide uses a timeline to demonstrate that Kao's claim of an 'ongoing' review process was contradicted by their later admission that decisions were made before candidates were proposed.",
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      "text": "We believe that Kao is either misleading shareholders today, or it misled Oasis in November. Either way, this is clearly poor governance.",
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      "text": "In early November, Oasis informed the Nomination Committee of five independent profiles... We believe that Kao is either misleading shareholders today, or it misled Oasis in November. Either way, this is clearly poor governance.",
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      "text": "Finally, Kao did not contact any of the independent candidates that Oasis had referred for consideration until an hour and a half after Oasis filed its large shareholder report on December 10 at 17:00 Japan time.",
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      "text": "\"the review process is already ongoing, if your proposal requires urgent consideration, we kindly ask that you promptly submit specific candidates the Nomination Committee.\" — Kao (November 22). \"We feel it's important for us to make the announcement... there's nobody else from our end that we'd recommend as candidates that's going through any of the procedures.\" — Nomination Committee (December 5). \"decision was made before Oasis Management proposed any director candidates\" — Kao press release dated December 12.",
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