Today's Hard|Forum Post
Today's Hard|Forum Post

Tuesday July 21, 2015

Toshiba CEO Quits Over Accounting Scandal

Toshiba's CEO Hisao Tanaka, and his two predecessors, resigned today after investigators found earnings had been inflated by at least $1.2 billion over the past six years. Thanks to ccmfreak2 for the link.

Toshiba Corp's chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after an independent inquiry found the CEO had been aware the company had inflated its profits by $1.2 billion over a period of several years.