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Toshiba CEO to resign

Earlier today, Nobuaki Kurumatani resigned as CEO of Toshiba. Chairman Satoshi Tsunakawa will take over. The move follows an internal Toshiba survey which ....

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Toshiba's CEO to Step Down After Losing Employee Support

Toshiba’s CEO to Step Down After Losing Employee Support
SYNDICATED 3 hours ago
(Bloomberg) Toshiba Corp. said Chief Executive Officer Nobuaki Kurumatani will be replaced by Chairman Satoshi Tsunakawa, an abrupt leadership reshuffling that casts doubt on potential buyout offers for the $20 billion Japanese icon.Toshiba said the changes are effective immediately in an announcement Wednesday. The company will soon begin considering successors for Tsunakawa, who returns to the CEO job he held previously, said. ....

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Toshiba CEO Steps Down, Board Planned to Oust Him Before Buyout: Report

Kurumatani on Wednesday resigned from Toshiba. Chairman Satoshi Tsunakawa, who led the company beforehand, will replace him.
The board told Kurumatani the day before the offer was announced that they would replace him, sources who didn t want to be identified because of the sensitivity of the issue told Reuters.
On the subject of Kurumatani stepping down, Toshiba told Insider: It is a resignation in the middle of the CEO s term of office, which is unusual, but the resignation is decided by Mr. Kurumatani himself and should be respected.
Two members of Toshiba Corp s nomination committee, including board chairman Osamu Nagayama, met Kurumatani, himself a former CVC executive, before the buyout bid and told him they were looking for a new CEO, sources told Reuters. ....

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Toshiba CEO resigns, shares surge on bidding war expectations

Toshiba CEO resigns, shares surge on bidding war expectations
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Toshiba CEO to step down as board meets Wednesday to consider his future: source

4 Min Read
TOKYO (Reuters) - Toshiba Corp Chief Executive Nobuaki Kurumatani plans to step down as other board members consider his future at the industrial conglomerate amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision said.
FILE PHOTO: Toshiba Corp s CEO Nobuaki Kurumatani attends a news conference at the company s headquarters in Tokyo, Japan, May 15, 2018. REUTERS/Issei Kato
Kurumatani, who has run the company for three years, faces a board meeting on Wednesday that will consider removing him, according to the source and another one with knowledge of the discussion. Local media said company Chairman Satoshi Tsunakawa was a possible successor. ....

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