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Toshiba Corp.
6502,
said Tuesday that Satoshi Tsunakawa had stepped down as chief executive amid turmoil over its plan to restructure itself by splitting into two companies.
The company said Corporate Senior Vice President Taro Shimada had succeeded Tsunakawa and would lead the company that will run its energy and infrastructure business after the spin-off is complete.
In early February, Toshiba announced a revised plan to break itself into two parts by spinning off its device business. The remaining unit would manage Toshiba’s other assets, including infrastructure, in a change targeted to take place by March 2024.
