Toyo Keizai, a Japanese weekly business magazine, published a story online on August 4, 2021 on a candidate to be Toshiba’s next president and CEO, and indicated that a plan for the appointment of this candidate had been brought to some activists who are major shareholders of Toshiba. This is not based on any announcement by Toshiba or grounded in fact.

As Toshiba announced on July 30 in “Statement from the Toshiba Board of Directors,” Toshiba’s Nomination Committee has recently selected two executive search firms to assist in the process of selecting additional candidates to be nominated to the Board, and also to consider internal and external candidates as potential successors to our Interim Chairperson and CEO, Satoshi Tsunakawa. Toshiba’s Board of Directors expects that the process of identification of a successor to the role of CEO will be extensive and take longer, given the significance of this role and the importance of Toshiba as one of Japan’s most important companies. To date, the Nomination Committee has not identified any candidates, including the person named by Toyo Keizai, nor has the company contacted any shareholders to sound them out about potential candidates.

Toshiba will make a further announcement if any decision is made that requires disclosure.