Norio Sasaki

Toshiba Corp will promote Hisao Tanaka, a long-time manager of procurement and manufacturing at its consumer electronics division, to chief executive at the end of June, the company said on Tuesday.

Tanaka, a 40-year veteran of Toshiba and currently a corporate senior executive vice president, will take over from Norio Sasaki, who will move to a newly created role of vice chairman after completing a regular four-year term as CEO. The appointments are expected to be officially approved by the board in June.

Toshiba Corp President and CEO Norio Sasaki speaks behind a display of Toshiba light bulbs during an interview with Reuters at the company headquarters in Tokyo December 16, 2010. Toshiba Corp may see profit in its liquid-crystal display business recover to more than 10 billion yen ($119 million) for the year to March, compared with its previous forecast of zero, Sasaki said on Thursday.

Toshiba Corp may turn its first annual profit on liquid-crystal display (LCD) panels in four years as sales of smartphones and tablet computers boom

More Blogs