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Toshiba Corp attempts to mix-up front office, Norio Sasaki to become new CEO
18 March 2009 | By Jon Haines | Going Places
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The Japanese electronics company, Toshiba Corp announced it
would seek shareholder approval in order to make current Vice President Norio
Sasaki the company’s new CEO, while the current CEO Atsutoshi Nishida would
become Chairman and the current Chairman Tadashi Okamura would become an
Adviser.
Sasaki has an expert in nuclear energy in Toshiba Corp and was responsible for the purchase of the U.S. nuclear power firm Westinghouse in 2006. With the company heading towards a record annual loss, CEO Nishida explained the move is meant to assign a single leader to lead the company through a reconstruction period.
Nishida’s proposition came after rival company Hitachi Ltd. appointed Takashi Kawamura as its new CEO for the purpose of restructuring its sprawling operations.