Toshiba CEO, step down for irregularities– Over a questionable accounts, company’s CEO and some board members together with the Vice chair will step down in September.
Toshiba announced that it started investigating an accounting scandal just this year over Toshiba Corp Chief Executive Hisao Tanaka, Vice Chairman Norio Sasaki and other company’s board members.
This involved officials are requested to step down in September.
Toshiba isa Japanese multinational conglomerate corporation headquartered in Tokyo, Japan.
Products and services include information technology and communications equipment and systems, electronic components and materials, power systems, industrial and social infrastructure systems, consumer electronics, household appliances, medical equipment, office equipment, lighting and logistics.
Recently, the company announced that they will stop making televisions in own factories. Televisions will be made by Compal for US, or by Vestel and other manufacturers for European market.
In May 2015, Toshiba Corp President and Chief Executive Officer Hisao Tanaka attended conference to check accounting issues, Tokyo.
Authorities made investigation involving company’s officials. This step might change the system.
According to a sources, probably half of its board members to be replaced on the s next shareholders’ meeting in September, declining to be named for they were not allowed to speak with media, said on Wednesday.
Toshiba spokeswoman said that the company had not yet made any decision on the matter and was waiting for the third-party committee to release its findings.
Over its questionable accounts, third-party committee was hired by Japanese conglomerate to investigate past book-keeping practices.
Toshiba has made numerous corporate acquisitions during its history, however some irregularities happened inside its own company.
The company states that there might a need to mark down profits for the past three years. / IMAGE AP