Kurumatani, 63, a former chairman of CVC's
CVC's proposal to take Toshiba private, widely seen as being solicited by Kurumatani in a bid to fend off pressure from foreign investors calling for more transparent management, is opposed by some board members, sources close to the matter have said.
In the online press conference,
"CVC's initial proposal was very abrupt and lacks details," Nagayama said, adding, "Evaluation is not possible at this moment and quite a few things require careful consideration."
The purchase of Toshiba would require screening by the Japanese government for national security reasons because Toshiba's businesses include nuclear power and defense equipment.
Kurumatani has seen his support from shareholders dwindle. At the general shareholders meeting in July, 57.96 percent supported Toshiba's move to keep him in the post, down from 99.43 percent a year earlier, according to Toshiba.
He said in a statement he resigned because he needs some time off after having completed his task of turning around the company and helping it return to the
He did not make any reference to the CVC buyout plan.
"I would like to work on building trust with shareholders and other stakeholders," said Tsunakawa, who is in charge of negotiations with shareholders, adding he will basically maintain the company's current business strategy centering on an expansion of infrastructure businesses.
Tsunakawa served as Toshiba's president between 2016 and 2018, spearheading turnaround measures including raising
The fundraising subsequently increased investment by activist funds.
Tsunakawa will keep the position of chairman which he assumed in 2020, Toshiba said.
As for a delayed initial public offering of the Toshiba group's
The head of the Japanese operation of
Last month, Toshiba held an extraordinary shareholders meeting at the request of foreign activist investors. A proposal by
The fund had called for a fresh investigation into whether Toshiba's general shareholder meeting last year was held fairly since shareholder services provider
Toshiba has spent years trying to improve its governance and has undergone restructuring since an accounting scandal in 2015, followed by the bankruptcy of
==Kyodo
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