Toshiba CEO Steps Down Amidst Billion Dollar Accounting Scandal

Toshiba chief executive and president, Hisao Tanaka_3408651297161693234
An accounting scandal north of 1.2 billion dollars.

That is the driving force behind resignations at one of the world’s most recognizable electronics brands.

Hisao Tanaka, the CEO and president of Toshiba resigned this morning amidst an investigation that alleges the company overstated it’s profits by more than a billion dollars over seven years.

It all started back in April when the accounting issues first came to light. Since then, Toshiba stock has plummeted by around 20-percent. 

Eight board members stepped down in addition to Tanaka. 

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories