China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Visa to Move European Headquarters to London’s Canary Wharf 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Toshiba is receiving offers for buyout bids, but before any interested parties could close a deal with the company, its chief executive officer, Nobukaki Kurumatani, is leaving. He was reported to have resigned at a board meeting.
Unfortunate resignation as the company is facing issues
As per Reuters, Kurumatani tendered his resignation on Wednesday, April 14, and the board accepted. He will leave the company amid the controversies over CVC Capital Partner’s $20 billion buyout offer.
“Tsunakawa has the trust of various stakeholders,” Toshiba’s board chairman, Osamu Nagayama, said via press conference. He added that Kurumatani told the board he is stepping down since the “company’s recovery is now firmly in place.”
It was further disclosed the ex-CEO would be leaving Toshiba immediately, and his exit comes just a week after the firm revealed it is looking and reviewing acquisition offers from a fund firm he previously worked for, which is CVC.
Kurumatani’s CEO post at Toshiba will be taken over by Satoshi Tsunakawa. He was the chairman before Kurumatani, so it seems he is just taking back his work again.
Despite his stated reason for the resignation, the executive is leaving Toshiba on a bad note because he had been under fire for the CVC acquisition proposal. There are also other allegations that say investors were pressured to support desired nominations at the board.
CVC’s proposal stirred a backlash
CVC’s acquisition offer is worth $20 billion, and one of Toshiba’s investors, Oasis Management Co., said that this is too low. The amount is equivalent to ¥5,000 per share, or just $45, and the equity firm reiterated this is a very cheap price.
Other investors agreed and joined in the move to urge Toshiba to look for other potential buyers and accept more bids. The offer was also heavily criticized by the company’s managers, and this prompted them to lobby against it to the government.
Meanwhile, stock prices in Toshiba closed at six percent higher at ¥4,860. The company is also currently considering another proposal from KKR & Co. Canada’s Brookfield Asset Management Inc is also mulling on bidding for Toshiba’s acquisition.
