Japan-based business conglomerate Toshiba has appointed a new chief executive officer (CEO) and chief operating officer (COO) as part of its strategy to transform the troubled organization.
Japan’s securities watchdog is investigating Toshiba Corp’s accounting practices for the last business year to see if it properly handled the losses incurred by its U.S. nuclear unit Westinghouse, Reuters reported earlier.
Nobuaki Kurumatani, the new chairman and CEO, is the first CEO to be appointed from outside the company in over 50 years.
Satoshi Tsunakawa is the new COO of Toshiba.
“I am here at Toshiba to support change and transformation, and I see my role as to build on the company’s resilience and to lead its recovery. To secure growth, we must radically improve our earning power and reinforce our finances. We must move out of our comfort zone and promote fundamental reforms,” Nobuaki Kurumatani said.
Nobuaki Kurumatani most recently served as president of CVC Asia Pacific Japan (CVC). Before joining CVC in May 2017, he was deputy president and a director of Sumitomo Mitsui Financial Group – responsible for corporate planning, public relations and internal auditing. He is a graduate of the University of Tokyo, where he studied Economics.
Satoshi Tsunakawa has taken on a new role in Toshiba as representative executive officer and president, and chief operations officer (COO). Nobuaki Kurumatani and Satoshi Tsunakawa will together execute the management of Toshiba Group.