President Hisao Tanaka has resigned after the company disclosed that it had overstated its profits for the last 6 years.

Masashi Muromachi, the current Chairman will fill the position, with vice-chairman Norio Sasaki also stepping down.

On Monday, an independent panel appointed by Toshiba said the firm had overstated its operating profit by a total of 151.8bn yen ($1.22bn, £780m).

Toshiba’s business empire ranges from home electronics to nuclear power stations.



Source: BBc Business News