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Toshiba chairman says he may leave once problems fixed – WSJ

Stock Markets23 minutes ago (Jun 16, 2021 09:05PM ET)

(C) Reuters. Toshiba Corp. Board of Directors Chairperson Osamu Nagayama attends a news conference in Tokyo Japan June 14, 2021, in this handout photo taken and released by Toshiba Corporation. Toshiba Corporation/Handout via REUTERS

TOKYO (Reuters) – The chairman of Toshiba (OTC:TOSYY) Corp, facing calls to resign amid a corporate governance scandal, said he may step down after revamping its board and appointing a new CEO, according to the Wall Street Journal.

An independent investigation has alleged that Toshiba management colluded with Japan’s trade ministry to block foreign investors from gaining board influence, reviving concerns about Japanese corporate governance and prompting calls for Board Chairman Osamu Nagayama to resign.

“These are the two major tasks if I remain as a board member and the chairperson of the board,” Nagayama was quoted as saying in the Journal interview.

“When I see the whole thing set in the right order, it’s an appropriate time I consider myself to resign.”

Toshiba chairman says he may leave once problems fixed – WSJ

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