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Toshiba CEO resigns

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Toshiba CEO Nobuaki Kurumatani stepped down suddenly.

His resignation comes a week after reports surfaced about buyout interest in Toshiba from U.K. private equity company CVC Capital Partners. The company reportedly is offering as much as $20 billion for Toshiba.

Company Chairperson Satoshi Tsunakawa, the public face of the company, stepped into the CEO position.

Read more from Nikkei Asia.

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