Shigenori Shiga Steps Down as Toshiba’s Chairman

Shigenori Shiga Steps Down as Toshiba’s Chairman Toshiba Corporation’s Chairman Shigenori Shiga announced his resignation(इस्तीफा)  from the multinational conglomerate(समूह)  with effect from February 15, 2017 as the company faced huge losses of multi-billion-dollars.  Shiga is stepping down accepting his responsibility(ज़िम्मेदारी)  for his

company’s financial challenges and operating losses. The company issued a report forecasting (भविष्यवाणी) a net loss of 390 billion yen ($3.4 billion) in the current fiscal year ending March 2017.  .Besides, the company also faced a 712.5 billion yen (USD 6.3 billion) loss for its nuclear business related to the purchase of CB&I Stone & Webster by its US nuclear unit Westinghouse. Though Shiga would step down from the board, he would stay on as a Toshiba executive .