Toshiba helm goes to Tanaka in June

Bloomberg

Toshiba Corp. said Tuesday that Hisao Tanaka will take over as president in June as it tries to bolster growth from energy and chip operations.

Tanaka, 62, a corporate senior executive vice president in charge of strategy planning, purchasing and production, will replace President Norio Sasaki in June, the company said in a statement.

Sasaki, who has headed Toshiba since June 2009, will become vice chairman, and Atsutoshi Nishida will remain chairman, Toshiba said.

The changes are subject to approval by the board following a shareholders’ meeting in June.

The new president’s tasks will include expanding the company’s energy and chip-making operations while cutting costs to increase profit. Toshiba, which supplies chips to Apple Inc., also needs to rebuild its home appliance business after the unit had a ¥1.3 billion loss last quarter.

Tanaka joined Toshiba in 1973 and has held his current title since June 2011, according to the company’s website. Sasaki, 63, will be the first vice chairman since listing in 1949.