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Toshiba CEO resigns, shares surge on bidding war expectations: Details here

Toshiba Chairman Satoshi Tsunakawa will become chief executive, the company said in a statement.

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Toshiba | Toshiba Corp | Japan

Reuters  |  TOKYO 

Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate's shares surged on reports that more suitors were planning offers. Toshiba Chairman Satoshi Tsunakawa will become chief executive, the company said in a statement. The statement gave no reason for the resignation but Kurumatani has come under much fire over the bid from CVC, his former employer, and his testy relations with the company's large activist shareholder base. A news conference is planned at 12.30 local time. ...

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First Published: Wed, April 14 2021. 08:48 IST
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