CURRENT AFFAIRS

Detailed explanation-1: -Toshiba Corp said on Tuesday CEO Satoshi Tsunakawa has resigned-a sudden departure that comes after sources said revised restructuring plans sparked opposition within the company in addition to long-standing anger from shareholders.

Detailed explanation-2: -The accounting scandal was followed by the bankruptcy of Toshiba’s US nuclear reactor subsidiary, Westinghouse, and revelations that that Toshiba was engaged in dubious dealings with bureaucrats from the Ministry of Economy, Trade, and Industry aimed at suppressing activist shareholders.

Detailed explanation-3: -Hiroshi Furuta appointed as the Chairman and Managing Director, Toshiba Transmission & Distribution Systems (India) Private Limited. Gurugram / Hyderabad, August 29, 2022: Toshiba Transmission & Distribution Systems (India) Private Limited (TTDI) today announced the appointment of Mr.

Detailed explanation-4: -The scandal was directly linked to unscrupulous accounting practices, such as booking future profits early, pushing back losses, and pushing back charges. Toshiba’s corporate culture, one where strict obedience to superiors was required, enabled fraudulent accounting practices.