Toshiba CEO to step down amid controversy over $20b buyout bid
FILE PHOTO: Toshiba Corp’s CEO Nobuaki Kurumatani attends a news conference at the company’s headquarters in Tokyo, Japan, May 15, 2018. REUTERS/Issei Kato/File Photo
Toshiba Corp Chief Executive Nobuaki Kurumatani plans to step down as other board members consider his future at the industrial conglomerate amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision said.
Create an account to continue reading our free content.
Already have an account? Sign in here
Bring stories like this into your inbox every day.
Sign up for our newsletter – The Daily Brief
Related Stories
US hedge fund Farallon Capital Management has also asked Toshiba to seek multiple offers.
With this recent purchase, 3D holds a 7.2% stake in the Japanese industrial group.
Investors say a deal of this size would lure other potential suitors.
Toshiba said it is awaiting more clarity but warned of financing and regulatory hurdles.
