Business News

Toshiba CEO to resign as buyout offer stirs turmoil: media

Toshiba’s president Nobuaki Kurumatani will resign on Wednesday, reports said, as a buyout offer from a private equity firm stirs turmoil inside the Japanese firm.

Kurumatani is expected to offer his resignation at a board meeting later in the day, according to the Nikkei, a leading business daily, and other Japanese media, citing unnamed sources.

In a statement, Toshiba confirmed only that its board of directors would meet Wednesday “and is scheduled to discuss the appointment of representative…

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