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Toshiba chairman Shigenori Shiga ready to step down - Nikkei
January 27, 2017 / 5:47 PM / a year ago

Toshiba chairman Shigenori Shiga ready to step down - Nikkei

Jan 28 (Reuters) - Toshiba Corp Chairman Shigenori Shiga is ready to step down to take responsibility for the huge write-downs looming over the Japanese group’s U.S. nuclear power unit Westinghouse Electric Co LLC, the Nikkei business daily reported.

Shiga was chairman of Westinghouse when the unit booked charges of $930 million in fiscal 2012 and $390 million in fiscal 2013, which Toshiba failed to flag at the time in violation of the Tokyo bourse’s disclosure rules.

Toshiba did not immediately respond to a request for comment outside regular business hours. (s.nikkei.com/2kBzwn3)

The Japanese conglomerate’s nomination committee will decide on the matter of Shiga’s resignation and an announcement could come as soon as Feb. 14, the Nikkei reported on Friday.

Westinghouse Chairman Danny Roderick is also expected to resign as president of Toshiba’s in-house energy systems and solutions company, the Japanese business daily reported. (Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)

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