Sixty-five-year-old Satoshi Tsunakawa has seen himself as the chief executive officer (CEO) of Toshiba Corporation on several occasions. But what is interesting about his appointment is that he ends up becoming the CEO every time the company’s CEOs are embroiled in any controversy.
For this Japanese company, controversies related to its CEO have become a thing. Tsunakawa was named as the CEO and Chief Operation Officer (COO) at Toshiba Corporation since 2018 and has been its President from 2016 to 2020.
After 2018 till today, Toshiba’s CEO was Nobuaki Kurumatani. Amid the buyout offer from CVC Capital Partners controversy, Kurumatani has quit the company. The outgoing CEO got in trouble with Toshiba after its former employer, CVC bid for the company and also offered to make it private. There were allegations that shareholders were pressured before a meeting to support the decision of the board on the bid. The plan to delist was allegedly suggested to obstruct an independent probe into the allegations.
It did not take time for Toshiba to bring its non-controversial CEO Tsunakawa back to power. At present, he is will be the interim CEO and chairman of the company.
In 2015, the then CEO Hisao Tanaka resigned over an accounting scandal related to $1.2 billion overstated operating profits. Post which, Tsunakawa was appointed as a CEO (even though there was a interim CEO then).
He held the role of Representative Executive Officer from 2016 to 2020. Prior to becoming the CEO in 2016, he served in various positions also as the CEO and President of Toshiba Medical Systems Corporation since June 9, 2010. During his tenure as CEO of Toshiba Medical Systems Corporation, he was able to turn the unit profitable.