Latest in Hisaotanaka

Image credit:

Toshiba accounting scandal may lead to CEO's ouster

Jon Fingas, @jonfingas
July 16, 2015
Share
Tweet
Share

Sponsored Links

Toshiba might be in for a rough, rough ride. Reuters sources claim that the tech giant is going to rack up the equivalent of $2.4 billion to $3.2 billion in charges due to "overstated profits" over the past six years. Investigators are still trying to determine whether or not executives played a role, and they won't reveal the extent of what went wrong until sometime next week. However, their findings may not matter much for CEO Hisao Tanaka -- he'll reportedly have little choice but to resign for letting this scandal happen on his watch. More than half of the board of directors may get the boot, too.

If the reports of bad accounting are accurate, they show that Japan still has a ways to go in its bid to improve the occasionally shaky leadership of its local tech giants. While Prime Minister Shinzo Abe is backing a corporate reform campaign, there haven't been many revelations yet. It's not clear whether Toshiba will be the most prominent example, or if it's just the tip of the iceberg.

[Image credit: Toru Yamanaka/AFP/Getty Images]

In this article: hisaotanaka, japan, scandal, toshiba
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Jabra's ANC update for the Elite 75t earbuds is now available

Jabra's ANC update for the Elite 75t earbuds is now available

View
Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

View
Apple iPad Air (2020) review: Who needs the iPad Pro?

Apple iPad Air (2020) review: Who needs the iPad Pro?

View
'Pokémon Go' gets AR Mapping tasks to enable more realistic effects

'Pokémon Go' gets AR Mapping tasks to enable more realistic effects

View
Jony Ive will help design 'the future of Airbnb'

Jony Ive will help design 'the future of Airbnb'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr