Toshiba’s CEO Nobuaki Kurumatani has resigned days after it received an acquisition offer from PE firm CVC Capital Partners which valued the Japanese firm 30% premium at around $20 bn. Kurumatani is also facing an independent investigation following the allegation that Toshiba investors were pressured into voting in favour of reappointing Kurumatani as CEO during the AGM last year. He will be replaced by Satoshi Tsunakawa, who was CEO prior to Kurumatani.

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