Toshiba adds outsiders to board amid accounting scandal
Scandal-hit Toshiba is trying to inspire investor confidence with a revamped board of directors following the resignation of executives amid a massive accounting fraud that came to light earlier this year.
The Japanese conglomerate, which makes everything from memory chips to nuclear power plant equipment, has shuffled its board so that seven of its 11 members are external. The outside directors are all Japanese.
Masashi Muromachi, who had been appointed interim leader of the company, will stay on as president, Toshiba said.
Former president Hisao Tanaka and other executives resigned after a committee reviewing its earnings said in July that the company padded its operating profit by about ¥156 billion ($1.25 billion) over six years to the end of 2014.
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