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Toshiba CEO to step down in September: sources

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Toshiba Corp Chief Executive Hisao Tanaka will step down in September along with other board members including Vice Chairman Norio Sasaki to take responsibility for accounting irregularities, sources familiar with the matter said.

The Japanese conglomerate has hired a third-party committee to investigate past book-keeping practices, and sources have said the probe was focusing on the role top officials played in the irregularities.

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Over half of the board was likely to be replaced at the company’s next shareholders’ meeting in September, sources said on Wednesday, declining to be named because they were not authorized to speak with media.

A Toshiba spokeswoman said the company had not yet made any decision on the matter and was waiting for the third-party committee to release its findings.

The Nikkei business daily earlier reported that Toshiba was expected to announce Tanaka’s resignation when the report was released next week.

The laptops-to-nuclear conglomerate first disclosed accounting irregularities in early April, two months after financial regulators ordered a report on past bookkeeping. It has been unable to close its books for the past financial year in the meantime and suspended its year-end dividend.

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Sources said previously that investigators’ central theory is that executives, worried about the impact of the 2011 Fukushima disaster on its nuclear unit, set overly aggressive targets in new businesses such as smart meters and electronic toll booths, encouraging the understating of costs and overestimating of revenue.

(Reporting by Reiji Murai and Ritsuko Ando in Tokyo; Additional reporting by Abhirup Roy in Bengaluru; Editing by Maju Samuel and Stephen Coates)

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Florida teacher suspended after boasting he’d have a 1000-student body count if he shot up his school

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A teacher at Lakeland High School in Florida has been placed under a temporary risk protection order after boasting that he could rack up a 1,000-person body count if he perpetrated a school shooting.

Keith Cook, a math teacher and a veteran, described hypothetical acts of violence to students during a lockdown drill, including how if he were a school shooter, he'd first plant IEDs around the school, start shooting, drive panicked people into the areas where he had rigged up the explosives, and then detonate them. Some students were horrified by what he described.

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If Trump were the raving mad King of Liechtenstein all of this would be comical

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Welcome to another edition of What Fresh Hell?, Raw Story’s roundup of news items that might have become controversies under another regime, but got buried – or were at least under-appreciated – due to the daily firehose of political pratfalls, unhinged tweet storms and other sundry embarrassments coming out of the current White House.

This week, a former White House official told Politico that “Trump’s been asking his government for some matter of months what can we do to make sure that China doesn’t get Greenland.”

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Donald Trump and the Jews: He’s exactly why most of us vote for Democrats

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If President Trump doesn't understand why a large majority of American Jews are Democrats, maybe he should take a look in the mirror.

In case you need a quick refresher, Trump sparked an enormous furor on Tuesday when he said, "I think any Jewish people that vote for a Democrat, I think it shows either a total lack of knowledge or great disloyalty." He added that "five years ago, the concept of even talking about this . . . of cutting off aid to Israel because of two people that hate Israel and hate Jewish people — I can't believe we're even having this conversation. Where has the Democratic Party gone? Where have they gone where they're defending these two people over the State of Israel?"

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