Toshiba CEO resigns over $1.2bn accounting scandal

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Toshiba Corp President and Chief Executive Officer Hisao Tanaka bows at the start of news conference at the company headquarters in Tokyo July 21, 2015. Japan's Toshiba Corp said Tanaka was stepping down on Tuesday after an independent investigation found he had been aware the company had been inflating its profits over a number of years.  REUTERS/Toru Hanai - RTX1L5TX
Toshiba Corp President and Chief Executive Officer Hisao Tanaka bows at the start of news conference at the company headquarters in Tokyo July 21, 2015. Japan’s Toshiba Corp said Tanaka was stepping down on Tuesday after an independent investigation found he had been aware the company had been inflating its profits over a number of years. REUTERS/Toru Hanai – RTX1L5TX

Toshiba CEO Hisao Tanaka has resigned after an independent investigation showed he knew about overstated corporate profits for seven years. The accounting irregularities of $1.22 billion involved top management.

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