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Toshiba CEO, Executives To Step Down Over $1.2 Billion Accounting Scandal

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  • Toshiba CEO, Executives To Step Down Over $1.2 Billion Accounting Scandal

    Japan's Toshiba Corp said its chief executive was stepping down on Tuesday after an independent investigation found he had been aware the company had been inflating its profits over a number of years. CEO and president Hisao Tanaka will be replaced by chairman Masashi Muromachi effective Wednesday, the company said in a statement, adding it was considering appointing outside directors to over half of its board seats.
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