(Bloomberg) -- Toshiba Corp. plans to appoint Chief Executive Officer Nobuaki Kurumatani as president, a person with knowledge of the matter said, a move that will give him more decision-making authority in its digital-focused strategy,

Satoshi Tsunakawa, president since 2016, will become non-executive chairman, the person said, asking not to be identified because the appointments aren’t formal. Toshiba’s board will approve the leadership changes at a meeting on Saturday, the person said.

Kurumatani, 62, joined Toshiba in April 2018 after the electronics conglomerate decided to sell its crown-jewel memory unit to a consortium led by Bain Capital, in order to avoid delisting after billions of dollars of losses in its U.S. nuclear energy operations. A former vice president at Sumitomo Mitsui Banking Corp. and executive at CVC Capital Partners Ltd., Kurumatani restored Toshiba’s dividend and bought back 700 billion yen ($6.4 billion) worth of shares.

Calls to Toshiba’s communications department outside of regular business hours did not yield any response.

Kyodo News earlier reported on the leadership changes at the Tokyo-based electronics maker.

Toshiba is currently pressing forward with plans to take over NuFlare Technology Inc., despite a higher competing offer for the provider of critical chipmaking equipment. Toshiba was already NuFlare’s biggest shareholder with 52.4% when it initiated the buyout. Toshiba Machine Co., an independent company that retains the former parent’s name and is the second-largest NuFlare stockholder, has said it will sell its 15.8% stake to Toshiba.

In a new twist, Yoshiaki Murakami, Japan’s best-known activist investor, announced a tender offer for Toshiba Machine late on Friday.

To contact the reporters on this story: Ayai Tomisawa in Tokyo at atomisawa@bloomberg.net;Yuki Furukawa in Tokyo at yfurukawa13@bloomberg.net

To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Reed Stevenson, Stanley James

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