The offer, reportedly in excess of $20 billion, stirs tumult within the firm around allegations it is intended to blunt the influence of activist investors. In a shock move, Toshiba's president Nobuaki Kurumatani, who previously worked for CVC, resigns -- although he insists his decision is not related to the buyout controversy. November 2021: Business split Toshiba's board approves a plan to split the conglomerate into three companies, under pressure from activist investors to boost the value of the firm's stock.