Sixteen Airbus A380 jets, 263 Sanlorenzo yachts, 11,250 Hong Kong apartments, 31,500 Mar-a-Lago Club memberships, 1.2 million Rolex Submariner watches. All purchases you could make with the mountain of cash Toshiba just blew.
In fact, the $6.3 billion the Japan Inc. icon with roots dating back to 1875 and telegraphs wrote down equates to Kosovo's annual gross domestic product. Really, you almost have to be trying to win an award for worst CEO to do that. Like a dutiful corporate samurai, Shigenori Shiga is stepping down from the conglomerate.
The only thing the once-proud Toshiba is telegraphing these days is how little headway the government has made in modernizing corporate governance practices.
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