Toshiba says to appoint ex-banker as next CEO

14 Feb, 2018

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TOKYO (Reuters) – Japan’s Toshiba Corp said on Wednesday it is appointing Nobuaki Kurumatani, a former executive of Sumitomo Mitsui Financial Group, as its chairman and chief executive.

Incumbent CEO, Satoshi Tsunakawa, will become chief operating officer and retain his role as president, the company said.

Kurumatani, currently the president of the Japanese arm of European private equity firm CVC Capital Partners, is a former deputy president of Sumitomo Mitsui Banking Corp, one of Toshiba’s main lenders, which often have a strong influence on its management decisions.

Reporting by Makiko YamazakiEditing by Muralikumar Anantharaman

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