Eight board members, including vice chairman Norio Sasaki, have also resigned their posts as part of a major management reshuffle. Toshiba’s current chairman, Masashi Muromachi, was named interim president.
Japanese conglomerate Toshiba, which make everything from consumer electronics to nuclear energy technology, has been under fire for months over accounting irregularities. The company overstated profits by 151.8 billion yen ($1.2 billion) over a seven year period, according to an independent committee.
Find out more at CNN Money.
Photo courtesy of: Pixabay