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Toshiba empire split into three after erasing CEO Osamu Nagayama’s name from its history – Executive Digest

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Toshiba empire split into three after erasing CEO Osamu Nagayama's name from its history - Executive Digest

Toshiba succumbed to investor pressure. The Empire of Japan will split into three companies to prevent new incidents of mismanagement like those reported in recent months.

“Throughout its more than 140-year history, Toshiba has continually evolved to stay ahead of its time,” said CEO Satoshi Tsunakawa.

“Today’s advertising is no different. To enhance our competitiveness, we will split the group into three companies so that each organization has the greater flexibility it needs to meet new market opportunities and challenges, ”added the CEO.

The Tokyo-based company said it would split its core operations, thus placing two new public companies, one for infrastructure services and one for “equipment.”

The rest of the empire will be housed in Kioxia Holdings and Toshiba Tec Corp. The target is to complete the allocation by the second half of FY2023.

The company also planned to pay dividends to shareholders in the amount of 100 billion yen (about 800 million euros at today’s exchange rate).

A week ago, a Toshiba spokesman announced that the company is considering splitting the company into three parts.

This strategy could ease pressure from activist shareholders who now make up a significant portion of the Japanese firm’s investor base.

“This change is a strategic option that is being considered,” the company said in a statement.

Toshiba is in the process of drawing up a new medium-term plan to increase corporate value with the already advanced Nikkei index, which the company intended to split by 2023.

A dark scenario to avoid

In June, Toshiba’s board appointed CEO Satoshi Tsunakawa as interim chairman of the company following the removal of Osamu Nagayama.

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In a statement released, the company acknowledged the “seriousness of this exception.”

The Japanese giant begins the hiring process to select Tsunakawa’s successor.

The general meeting of shareholders voted for the resignation of Toshiba CEO Osamu Nagayama, a source attending the meeting told Reuters.

According to the same source, this meeting was attended by more foreign shareholders than at previous meetings, as they considered the meeting not only “extremely important for the viability of the company, but also for the reputation of Japan.”

Nagayama was forced to step down after an independent investigation this month revealed that Toshiba, in cahoots with the Japanese Department of Commerce, tried to prevent foreign shareholders from gaining influence on the board of directors during last year’s AGM.

This week, Toshiba’s CEO launched an internal investigation into the “unacceptable events” facing the company. In an open letter sent to shareholders, he complained about “undermining confidence in the company” after a duel between management and investors.

“In addition to the ongoing investigation, Toshiba will order the recruitment of new members to the executive body, which will expedite the selection process to appoint a future replacement for Satoshi Tsunakawa,” the company’s interim CEO explained in a letter.

In June, a number of shareholders said a Japanese company and the Tokyo government conspired to harm some of the shareholders.

In a statement sent to leading newsrooms around the world, Singapore-based Effissimo, Toshiba’s largest shareholder with 9.9% of the shares, called the board “ineffective” and called for Nagayama to leave.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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