Toshiba CEO resigns amid controversy over $20b buyout bid

Toshiba CEO resigns amid controversy over $20b buyout bid

FILE PHOTO: Toshiba Corp's CEO Nobuaki Kurumatani attends a news conference at the company's headquarters in Tokyo, Japan, May 15, 2018. REUTERS/Issei Kato/File Photo

Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate’s shares surged on reports that more suitors were planning offers.