Toshiba has named a new CEO. Satoshi Tsunakawa will take over from Masashi Muromachi who himself replaced the previous CEO in July last year following an accounting scandal.
Tsunakawa is a veteran of the Japanese electronics giant and will take over in June following approval of his position by shareholders. Muromachi will stay on as a special advisor.
In July 2015, former CEO Hisao Tanaka and seven other executives resigned when an investigation revealed that had been falsely inflating profits for six years. The company's accounts were adjusted down by $1.22bn. ®