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TOKYO (Reuters) - Shares in Japan’s Toshiba Corp surged on Wednesday, propelled higher by reports of more plans of bids for the conglomerate and expectations that its embattled chief executive would soon resign.
FILE PHOTO: Toshiba Corp CEO Nobuaki Kurumatani attends a news conference at the company's headquarters in Tokyo, Japan May 15, 2018. REUTERS/Issei Kato/File Photo
CEO Nobuaki Kurumatani is planning to resign amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision told Reuters on Tuesday.
Toshiba said its board is meeting on Wednesday to discuss management issues but that reports about Kurumatani resigning were not based on company announcements.