Toshiba interim CEO Muromachi to stay on | Personnel Moves

Toshiba  (TYO:6502) proposed the company keep interim CEO Masahi Muromachi on as permanent chief exec after 8 officials resigned due to their roles in an accounting scandal, Japanese media reports.

Last week, Toshiba said former board chair Muromachi would temporarily take the reins as chief exec after an independent probe found former CEO Hisao Tanaka was aware the company had inflated profits by $1.2 billion over several years.

The decision was made by the company’s appointments committe, which includes external directors, according to the Asahi Daily. The plan is expected to be proposed at a shareholders meeting in September, according to the Japanese paper.

Muromachi has not been implicated in the accounting issues that led to the resignation of 8 officials. He has been with Toshiba since 1975, when he joined the company as a general manager.

According to Reuters, a Toshiba spokesman said nothing has been officially decided.

 

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