TOKYO – The board of Toshiba Corp. is meeting Wednesday, amid Japanese media reports that the president is stepping down as the technology conglomerate studies an acquisition proposal from a global fund where he previously worked.
Toshiba said decisions on directors will be discussed at the board meeting, and an announcement will be made, but declined to comment on the resignation.
Nobuaki Kurumatani was the head of the Japan operations of CVC Capital Partners, which proposed the acquisition last week, before taking his post as chief executive of Toshiba in 2018.
Some questions had been raised, both within and outside the Tokyo-based company, about Kurumatani leading the board discussions on the acquisition.