Toshiba corporate scandal: Chairman says wants to stay on, says new directors needed

Toshiba Corp’s chairman of the board on Monday pushed back against investor calls to resign, saying he wanted to help right the crisis-hit Japanese conglomerate and would bring in new directors.

Toshiba has come under fierce scrutiny after an independent investigation last week revealed management colluded with Japan’s powerful trade ministry to block foreign investors from gaining board influence, in what one leading shareholder has called the world’s worst corporate scandal in a decade.