Toshiba Replaces CEO Again but Sticks With Two-Way-Split Plan

TOKYO—Toshiba Corp.’s chief executive stepped down Tuesday, but the company said it would stick with its plan to split into two parts, which some foreign shareholders oppose.

Satoshi Tsunakawa, a longtime Toshiba executive who had two stints as CEO, was replaced in the job by Taro Shimada, 55, who joined Toshiba in 2018 after working at a Japanese unit of Germany-based Siemens AG .