Also proposed for the board is
Earlier this year, it tapped
Shimada was an executive at Siemens, both in
In February, Toshiba proposed splitting into two companies, one focused on infrastructure and the other on devices. That was voted down in March.
Some shareholders, including foreign investment funds and
An earlier plan, also scrapped, called for a three-way split. Toshiba management had defended the February proposed plan as less costly.
The latest proposal for an overhauled leadership, including the appointment of Shimada as chief executive, still needs shareholders’ approval.
Toshiba has been struggling since the Fukushima nuclear disaster in
The company’s reputation was also tarnished by an accounting scandal, which involved books being doctored for years.
Last year,
Kurumatani was replaced by Tsunakawa, a veteran at Toshiba, who had served as chief executive from 2016.
Founded in 1875, Toshiba was a respected brand with Japanese consumers for products like electric rice cookers and laptop computers. It sold off its prized flash memory business as its fortunes tumbled.
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