Twitter

Link your Twitter Account to Market Wire News


When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.


Be alerted of any news about your stocks and see what other stocks are trending.

home / news releases / TOSYY - Toshiba CEO reportedly stepping down; will be replaced by chairman

TOSYY - Toshiba CEO reportedly stepping down; will be replaced by chairman

Toshiba Corp ADR
Toshiba ([[TOSBF]],[[TOSYY]]) CEO Nobuaki Kurumatani will reportedly resign on Wednesday after three years in the job due to clashes with activist investors and a lack of support among senior management.Nikkei Asian Review sources say Kurumatani will be replaced by Chairman Satoshi Tsunakawa.Last week, Nikkei reported that Toshiba had received a $20B offer from PE firm CVC Capital Partners to take the Japanese conglomerate private.Kurumatani was previously the head of Japanese operations for CVC, which presents a potential conflict of interest.Toshiba has set up an internal team to review the final CVC proposal when it's made.Related: Earlier today, Toshiba ADRs surged after a report that KKR is prepping a rival bid that would offer over $20B for Toshiba.

For further details see:

Toshiba CEO reportedly stepping down; will be replaced by chairman
Stock Information
Company Name: Toshiba Corp ADR
Stock Symbol: TOSYY
Market: OTC
Menu
TOSYY TOSYY Quote TOSYY Short TOSYY News TOSYY Articles TOSYY Message Board
Get TOSYY Alerts

News, Short Squeeze, Breakout and More Instantly...