TOSBF - Toshiba CEO to resign may lead to review of restructure plan - Bloomberg

Toshiba (OTCPK:TOSBF) CEO Satoshi Tsunakawa will resign, to be replaced by senior executive Taro Shimada on an interim basis, and new management will review the controversial proposal to split into two companies, Bloomberg reports. VP Mamoru Hatazawa reportedly also will step down, to be succeeded by Goro Yanase; Tsunakawa and Hatazawa will remain on the company's board. Toshiba shares rose nearly 5% in Japan after the report, showing that the company's "stakeholders don't like the idea of splitting the company, whether it's two or three," Ace Research Institute's Hideki Yasuda tells Bloomberg. "The market is pricing in that the chance of Toshiba going private has increased." Toshiba recently dumped its plan to divide into three listed companies and switched to a plan to split into two.

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Toshiba CEO to resign, may lead to review of restructure plan - Bloomberg