Japan’s Toshiba president steps down amid acquisition talks
The Hindu
Nobuaki Kurumatani will be replaced as chief executive and president by his predecessor, Satoshi Tsunakawa, who remained on the board, first as COO and currently chairman.
The president of Toshiba Corp. stepped down April 14, a week after the the Japanese technology and manufacturing giant said it was studying an acquisition proposal from a global fund where he previously worked. Nobuaki Kurumatani tendered his resignation at a board meeting, and the board accepted, effective April 14, Tokyo-based Toshiba said in a statement. Mr. Kurumatani headed the Japan operations of CVC Capital Partners, which proposed the acquisition last week, before taking his post as chief executive of Toshiba in 2018.
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