Toshiba Corp. announced members of its new management board led by investment fund Japan Industrial Partners Inc. Other than Toshiba President Taro Shimada, who will stay on, all board directors will be from JIP and investing firms. The board, to be launched following an extraordinary general shareholders' meeting on Dec. 22, 2023, will specifically be joined by the four JIP executives of CEO Hidemi Moue, Vice Chairman Koji Ikeya, Vice Executive President Shinichi Inagaki and Director Katsu Harashima, as well as Satoru Katsuno, chairman of Chubu Electric Power Co., and Akikazu Ida, Orix Corp.'s deputy business investment chief.

Moue will chair the board, and Ikeya, former Mitsubishi Motors Corp. vice president, will also serve as vice president of Toshiba, which will go private on and become two days later wholly owned subsidiary of a firm set up by a JIP-led consortium that acquired the Japanese electronics giant. Fumiharu Kozuka, senior adviser to Sumitomo Mitsui Banking Corp., will become senior managing executive officer.