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Scandal-hit Toshiba keeps Muromachi as president

He has spent much of his 40 years with the company in its semiconductor business

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Published Mon, Aug 31, 2015 · 09:50 PM

    Tokyo

    TOSHIBA Corp appointed Masashi Muromachi as president to lead the maker of memory chips and nuclear power plants as it emerges from an accounting scandal that may cost at least US$1.2 billion in writedowns.

    The company also said it expects to report a net loss for the 12 months ended March, Tokyo-based Toshiba said on Aug 18, without providing a specific number. Mr Muromachi, 65, also the company's chairman, had been named interim president in July.

    Toshiba

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