Toshiba confirms resignation of its president

Tokyo, Feb 14 (IANS) The president of the Japanese tech giant Toshiba tendered his resignation on Tuesday following the multi-million dollar losses linked to its failing nuclear power unit in the US.

The decision by Shigenori Shiga will take effect on Wednesday, and was announced on the same day that the company was due to reveal the extent of its losses during the first three quarters of the 2016 fiscal, Efe news reported.

The publication of results had been postponed earlier in the day due to auditing problems with the company’s accounts.

Shiga has stepped down ‘to take management responsibility for the loss’ related to assets of its US nuclear branch, Westinghouse Electric, according to a statement by the company.

–IANS

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