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Toshiba executive Tsunakawa to be named as next president

Toshiba Corp. is poised to name Corporate Senior Executive Vice President Satoshi Tsunakawa, 60, as next president of the electronics and machinery giant rocked by accounting fraud, informed sources said Sunday.

Current President Masashi Muromachi, 66, will step aside in late June as he has paved the way for reconstruction of Toshiba.

Toshiba hopes to achieve earnings recovery early by rejuvenating its top management.

Through the leadership change, the current management will also take responsibility for the firm’s poor earnings and massive job cuts in the wake of the accounting scandal, the sources said.

Toshiba’s nomination committee, chaired by Mitsubishi Chemical Holdings Corp. Chairman Yoshimitsu Kobayashi, will set the appointment plan in May.

(Source: The Japan News)