‘For the first time in over a decade, you’ve got a CEO at Toshiba who actually is a technologist, who understands technology, who has hands-on experience’
Toshiba's headquarters in Tokyo, Japan, April 7 2021. Picture: Picture: KIYOSHI OTA/BLOOMBERG
But it could give Shimada, a former aircraft designer and Siemens executive, leeway for his plan to boost subscription revenue by tying software to hardware. The outcome of the vote gives Shimada “carte blanche” to show he can deliver, said veteran Japan analyst Jesper Koll of Monex Group. Shimada says he’s the first Toshiba head to understand digital. He was brought in as chief strategy officer for digital in 2018 by then CEO Nobuaki Kurumatani, also a company outsider, who wooed him over ramen noodles in Tokyo's Shimbashi district.
He repeated that message “over and over” at internal meetings when he first joined, he told Reuters in an interview two years ago.Meanwhile, rival Hitachi has been transforming itself for a decade already, selling off low-growth businesses and investing in its digital and services platform. In 2021 it bought US software firm GlobalLogic for $9.6bn including debt.
Shimada declined to comment earlier in March when asked about the classification, since changed, of Toshiba Tec as “noncore”. He did say the business was “extremely good”. The company commands about half of the domestic market for point-of-sales systems.
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