Toshiba Corp. President Hisao Tanaka resigned Tuesday over an accounting scandal that saw the firm allegedly pad its profits over the past seven years.
The company said Vice Chairman Norio Sasaki, adviser to Toshiba Atsutoshi Nishida, four vice presidents and two directors also resigned Tuesday. Sasaki and Nishida both served as president prior to Tanaka.
Tanaka, Sasaki and Nishida pressured their subordinates to inflate profits, leading Toshiba to overstate earnings by ¥152 billion from fiscal 2008 to 2014 in a "systematic manner," said a report released Monday by an independent panel.