Toshiba CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion takeover bid from CVC Capital, while its shares rose on reports that Brookfield and KKR & Co are also planning bids.
Toshiba Shares closed up 6% at 4,860 yen, compared to the expected 5,000 yen level suggested by the CVC.
Satoshi Tsunakawa, who led the company before Kurumatani, will take over the leadership again.
Kurumatani, who was the CEO for three years, has come under fire over an offer from former employer CVC, facing allegations that investors came under pressure before a shareholder meeting.
Toshiba said Kurumatani was stepping down after an accounting scandal.
Toshiba Corporation is a Japanese multinational conglomerate headquartered in Minato, Tokyo.
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