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Toshiba chairman to resign over struggling U.S. nuclear business

Shigenori Shiga (Mainichi)

TOKYO (Kyodo) -- Toshiba Corp.'s chairman, Shigenori Shiga, plans to resign over its expected massive write-down in the U.S. nuclear business, sources familiar with the matter said Saturday.

    Shiga once served as president of Westinghouse Electric Co., its U.S. nuclear unit, which Toshiba has said could face a multibillion-dollar impairment loss with plant project delays leading to cost overruns.

    The Japanese industrial conglomerate may announce his resignation on Feb. 14 when it reports its April-December financial results, they said.

    Westinghouse Chairman Danny Roderick is also expected to step down while Toshiba President Satoshi Tsunakawa is likely to stay on, they said.

    Shiga, Roderick and Tsunakawa took their current posts last June as Toshiba reshuffled its management following an accounting scandal that surfaced in 2015.

    The post of Toshiba chairman is expected to remain vacant after Shiga's resignation.

    Shiga was the vice president in charge of the power systems business when Westinghouse acquired CB&I Stone & Webster in late 2015, a U.S. nuclear plant construction firm at the heart of the massive write-down problem.

    On Friday, Toshiba said it will review the nuclear operations and spin off its chip business to raise funds needed to cover the expected write-down.


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