This week, the Japanese company Toshiba has lost the CEO and a number of smaller managers because of the scandal with oversized operating revenues in previous years.
Now CEO Hisao Tanaka was fired , its duties will takes the chairman Masashi Muromachi , until they find a new candidate for the post. In addition, more than half of the posts on the board will be replaced by external managers.
Toshiba now have to not only shake up the ranks of managers, but also to review the financial results for prior periods. What penalties will be applied to the leaders implicated in the scandal, is not specified. Toshiba's stock price on the first news of the scandal fell by 20%, but today jumped 6% after the news of the intention of management as soon as possible to eliminate the consequences.