Toshiba CEO, Others, Resign Over Accounting Scandal

July 21, 2015 – Toshiba recently announced Masashi Muromachi as its newly appointed CEO effective July 21, following the resignation of Hisao Tanaka after the revelation of accounting irregularities.

Several other resignations were announced as well, after the discovery of overstated profits amounting to nearly 152 billion yen.

On July 21 Toshiba issued a press release that states, in part: ”The Company takes the matters pointed out in the investigation report by the Independent Investigation Committee very seriously, and will seek to establish a new corporate culture under new management and governance structures. The Company will make every effort to regain the trust of shareholders, investors, all other stakeholders and the public, and asks for your understanding and ongoing support.”

The full version of the investigation report is currently only available in Japanese, with an English translation scheduled to be released at a later date.

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