Toshiba names new CEO

April 15, 2021

Nobuaki Kurumatani resigned as Director, Executive Officer and Representative Executive Officer of Toshiba Corporation effective 14 April 2021.

Toshiba Corporation’s Board of Directors released the announcement on 14 April naming Satoshi Tsunakawa as new Representative Executive Officer, President and CEO, replacing Kurumatani.

Last week, Toshiba received a preliminary and non-legally binding initial proposal from CVC Capital Partners (CVC) regarding the acquisition of Toshiba. This initial proposal by CVC was completely unsolicited and not initiated by Toshiba, the company said at the time.

The takeover bid is said to be worth $20 billion (€16.7 billion), which according to reports undervalues the company.

Categories : Around the Industry

Tags : Business Resignation Takeover Bid Toshiba Corporation