...February 8, 2022 TOKYO (S&P Global Ratings) Feb. 8, 2022--Our ratings on Toshiba Corp. may come under heavy pressure if the company's revised reorganization plan fails to win shareholder support, including from activist investors, tipping its management into further disarray. Toshiba Corp.'s (##+/Watch Neg/B) management stability is again in question following its announcement Feb. 4, 2022, that it aims to break into two companies rather than three. Toshiba plans to hold an extraordinary general shareholders' meeting in March. The Japan-based diversified electronics company on Feb. 4, 2022, unveiled a plan to split in two with a spinoff and listing of its device segment. This is a departure from the three-way split it announced in November 2011. It had planned to separate out and list its infrastructure and device segments. Frequent changes in Toshiba's management team and strategy are starting to hurt its management stability. In April 2021, Toshiba's then-president and CEO resigned after...
