Taybat Ade-Ola
New Member
According to BBC, Chairman Masashi Muromach is succeeding Toshiba’s chief executive and president, Hisao Tanaka, who resigned after the company said it had overstated its profits for the past six years.
Tanaka’s Vice-chairman, Norio Sasaki also stepped down.
On Monday, an independent panel appointed by Toshiba said the firm had overstated its operating profit by a total of 151.8bn yen ($1.22bn, £780m).
Mr. Tanaka, 64, and Mr. Sasaki, 66, both joined Toshiba in the early 1970s.
Tanaka’s Vice-chairman, Norio Sasaki also stepped down.
On Monday, an independent panel appointed by Toshiba said the firm had overstated its operating profit by a total of 151.8bn yen ($1.22bn, £780m).
Mr. Tanaka, 64, and Mr. Sasaki, 66, both joined Toshiba in the early 1970s.
