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  • Toshiba CEO quits over accounting scandal

    Toshiba Corp's (6502.T) chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years.

    Tanaka will be temporarily replaced by Chairman Masashi Muromachi after an independent inquiry found the CEO had been aware the company had inflated its profits by $1.2 billion over a period of several years.

    "I see this as the most damaging event for our brand in the company's 140-year history," Tanaka told a news conference after making a ritual deep bow of contrition to a flurry of camera shutters and flashes.

    "I don't think these problems can be overcome overnight."


    More: http://www.reuters.com/article/2015/...0PV0B620150721
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