Toshiba Considers Replacing President, Company Official Says

Toshiba Corp., the Japanese maker of flash-memory chips, elevators and nuclear reactors, may replace President Norio Sasaki after a shareholder meeting in June, an official at the company said.

The board may name Corporate Senior Executive Vice President Hisao Tanaka, 62, to replace Sasaki, the official said Feb. 23, asking not to be identified because the decision hasn’t been made. Sasaki, who took over almost four years ago, would become vice chairman, and Chairman Atsutoshi Nishida would retain his post, the person said. Toshiba’s last three presidents all served for about four years, according to the company.