Toshiba’s CEO, other execs resign

Toshiba Corp. Chief Executive Hisao Tanaka and eight other executives resigned to take responsibility for doctored books that inflated profits at the Japanese technology manufacturer by $1.2 billion over several years.

Toshiba acknowledged a systematic coverup that began in 2008. Parts of the company’s sprawling business, including computer chips and personal computers, were struggling financially, but top managers set unrealistic earnings targets and subordinates faked results.