Electronics

Toshiba CEO resigns, shares surge on bidding war expectations: Details here

Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate’s shares surged on reports that more suitors were planning offers. Toshiba Chairman Satoshi Tsunakawa will become chief executive, the company said in a statement. The statement gave no reason for the … Read more

Photo finish: end of an era as Olympus sells camera division

Said Wednesday it is selling its struggling camera division to focus on medical equipment — now the major portion of the storied firm’s business. Olympus has been in the camera business since 1936, when it launched a product using the “Zuiko” lens, but it has struggled along with industry rivals as demand for traditional cameras … Read more