MOSCOW (Sputnik) — Hisao Tanaka, and his predecessor and current Vice Chairman Norio Sasaki have been involved in "accounting malpractices" over the span of seven years, the Guardian said.
Incumbent Chairman Masashi Muromachi will reportedly take over as Toshiba chief executive during the interim period.
Tanaka’s resignation was far from a surprise decision after the top executive became embroiled in a damaging scandal.
The panel of investigators said Monday, he had been trying to drive up profits by setting unrealistic targets for employees and overstating gains in company papers since the early 2000s.
The company's profits slumped in the wake of the global economic crisis and the 2011 earthquake in Japan, which also caused a meltdown at the Fukushima Daiichi nuclear plant.
