Toshiba boss resigns suddenly amid historic break-up plans
Toshiba’s boss has suddenly resigned, as the company undergoes a significant restructuring.
Satoshi Tsunakawa will be replaced by interim CEO Taro Shimada, amid reports that the plans to split the company had been met with opposition.
The Japanese technology giant announced a historic break-up plan in mid-November, following pressure form activist investors to streamline operations.
The initial restructuring plan would see Toshiba split into three separate companies, dividing its hard drives and semiconductors in one company, and its energy and infrastructure holdings into another.
However, it is understood that the company will be splitting into two firms instead.
Tsunakawa’s swift exit, as well as board member Mamoru Hatazawa – who had supported the restructuring plan – has left onlookers curious as to whether the company will push ahead with the split.
Interim boss Shimada said, however, that the company would continue to pursue its break-up plan, as it had received the green light from the board.
Toshiba said late last year that it hopes to complete the reorganisation by the second half of 2023.