Toshiba Names New President and CEO Feb 22, 2005

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The board of directors of Toshiba Corporation has nominated Atsutoshi Nishida, executive officer and corporate executive vice president of Toshiba, for the post of representative executive officer, president, and CEO of the company. The next president will succeed Tadashi Okamura in June 2005, and the appointment is subject to approval by the board meeting following the ordinary general meeting of the shareholders.

The nomination reflects the board's decision to accept the recommendation of Toshiba's Nominating Committee, which met on February 21.

The Nominating Committee received a submission from Mr. Okamura recommending Mr. Nishida as his successor, and undertook a comprehensive assessment of Mr. Nishida's record, achievements and personal qualities, and the reasons provided by Mr. Okamura for his recommendation. The committee then decided to nominate Mr. Nishida as a candidate for election as Toshiba's next president and CEO.

Following the election of the new president and CEO, Mr. Okamura will become chairman of the board of Toshiba. The current chairman, Taizo Nishimuro, will become an advisor to the company.

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