The crisis at Toshiba Corp. may have a silver lining for new boss Taro Shimada, allowing him to keep — at least for now — businesses pivotal to his digital strategy that predecessors had planned to sell.
Investors last week voted down management's plan to spin off Toshiba's devices unit, as well as a rival shareholder proposal to solicit buyout offers. That left the troubled 146-year-old conglomerate without a clear immediate direction.
But it could give Shimada, a former aircraft designer and Siemens AG executive, leeway for his plan to boost subscription revenue by tying software to hardware.