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Toshiba To Discuss Executive Appointments

Toshiba Corp. (TOSYY.PK,TOSBF.PK) said that its board will meet Wednesday to discuss the appointment of representative executive officers.

Reports have appeared in several newspapers and wire services about the replacement of the company's representative Executive Officer, President and chief executive officer.

According to several reports, Toshiba's chief executive officer Nobuaki Kurumatani will resign on Wednesday, as a takeover offer from CVC Capital Partners stirs turmoil inside the Japanese conglomerate.

Earlier this month, Toshiba said that it received an initial proposal from private equity firm CVC Capital Partners, and would ask for further clarification.

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