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Companies

Three Toshiba presidents paved road to near-ruin

One man's stalled promotion in 2003 may have been the starting point

From left, former Toshiba Presidents Atsutoshi Nishida, Hisao Tanaka and Norio Sasaki

TOKYO -- Toshiba on April 1 handed its reins to an outsider for the first time in over half a century. Nobuaki Kurumatani, a former banker, has his hands full cleaning up messes that reduced the electronics conglomerate to a shadow of its former self. But how, exactly, did the company careen so far off track in the first place?

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