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Toshiba CEO Resigns in $1.2 Billion Scandal

The chief executive of Toshiba resigned Tuesday in response to revelations the company inflated its profits by $1.2 billion over the course of several years. An independent report blamed the scandal on pressure from company leaders to meet difficult targets and a corporate culture that did not allow for employees to challenge their bosses. CEO Hisao Tanaka bowed before cameras in Tokyo and took blame for the scheme, which dates back to 2008. "The responsibility lies in the...

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