Toshiba announced a new management structure after being taken private by an investment fund, and President Taro Shimada will continue to take office. With more than half of the directors comprised of fund executives, the challenge is how to improve management efficiency and invest in growth for the future while maintaining a centripetal force from within the company.
Toshiba has accepted an acquisition offer by investment fund Japan Sangyo Partners for the purpose of stabilizing its management, and will be delisted on the 20th of this month.
Toshiba announced a new management structure on the 14th, and President Taro Shimada will continue to take office.
On the other hand, more than half of the seven directors, including President Shimada, are four of the fund's executives, including Hidemi Magami, president of Japan Industrial Partners, and Koji Ikeya, vice chairman.
In addition, Chairman Satoshi Katsuno of Chubu Electric Power Co., which participated in the acquisition, will become a new director.
The new structure is scheduled to be inaugurated after the Extraordinary General Meeting of Shareholders to be held on the 7nd of this month.
In addition to improving the efficiency of group management, Toshiba faces the challenge of how to proceed with growth investments for the future while bearing the financial burden associated with acquisitions.
As the centripetal force from within the management team declines due to the long-standing management turmoil, we will aim to rebuild management under a new structure.