Returning Toshiba CEO faces trial by fire as CVC buyout offer looms

Tsunakawa once beat back a possible delisting, and now a fresh crisis awaits

In Act II as the company's CEO, Tsunakawa must find a balance between shareholder returns and growth for Toshiba. © Reuters

TAKAYUKI YAO and YOICHIRO HIROI, Nikkei staff writers

April 15, 2021 07:12 JST

TOKYO -- After years of friction with activist investors over corporate governance and the company's vision for growth, Toshiba is attempting a reboot as its former President and CEO Satoshi Tsunakawa once again takes the reins of the company and grapples with a potential buyout by U.K.-based CVC Capital Partners.

Tsunakawa will seek to make peace with the activist shareholders, but Toshiba still faces the same big challenge as under former CEO Nobuaki Kurumatani: how to satisfy shareholders' push for greater returns while investing in new business fields to drive future growth.