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Business

Toshiba chairman to step down

Shigenori Shiga has overall responsibility for troubled nuclear business

TOKYO -- Toshiba Chairman Shigenori Shiga is ready to step down to take responsibility for the huge write-downs looming over the Japanese group's U.S. nuclear power business.

Shiga, who took the chairman's post last June, is in charge of the nuclear power division and served for a time as president of Westinghouse Electric, the American subsidiary bracing for losses potentially so big they have forced Toshiba to spin off its lucrative memory business.

Toshiba's nomination committee will decide on the matter of Shiga's resignation. An announcement could come as soon as Feb. 14.

President and CEO Satoshi Tsunakawa told reporters Friday he would leave his own fate up to the committee. "I feel greatly responsible" for the losses, he said.

Westinghouse Chairman Danny Roderick is also expected to resign as president of Toshiba's in-house energy systems and solutions company.

(Nikkei)

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