The remaining three members of the Livedoor Co. board of directors, who held seats when founder Takafumi Horie was running the Internet services company, will resign before a shareholders' meeting in June as the scandal-plagued firm tries to salvage its image, sources said Monday.
The extraordinary shareholders' meeting is expected to approve a motion to replace the three -- Representative Director Noriyuki Yamazaki, Director Hiroshi Haneda and Fumito Kumagai, a director now in police custody, the sources said.
About five new directors are expected to join the board, including President Kozo Hiramatsu, who took the helm during Livedoor's leadership crisis following Horie's arrest on Jan. 23, and Vice President Yukihiro Shimizu. Other new directors will likely include people from outside the company.