TOKYO (AP) — The president of Toshiba Corp. has stepped down, a week after the Japanese technology and manufacturing giant said it was studying an acquisition proposal from a global fund where he previously worked. Tokyo-based Toshiba said Nobuaki Kurumatani tendered his resignation at a board meeting Wednesday, and it was accepted. Kurumatani was the head of the Japan operations of CVC Capital Partners, and questions had been raised about Kurumatani leading the board discussions on the acquisition. Kurumatani will be replaced by his predecessor, Satoshi Tsunakawa. Toshiba was long a respected brand but has suffered losses in recent years over its investments in nuclear power.
