(Bloomberg) -- Toshiba Corp. is poised to choose Mitsubishi Motors Corp.’s former chief financial officer Koji Ikeya as vice president to help its turnaround effort after it goes private next week, while keeping Taro Shimada as president, according to people familiar with the matter.

The electronics group wants Shimada to help retain continuity following years of disruption from management overhauls, the people said. He will work with Ikeya, who helped spearhead Mitsubishi Motors’ push into electric vehicles, to lift Toshiba’s corporate value, they said.

The Tokyo-based company seeks to regain its footing after a decade marked by scandals, crippling losses and the sale of its pioneering memory chip unit. Toshiba is scheduled to delist from the Tokyo Stock Exchange on Dec. 20, in the wake of a buyout led by private equity fund Japan Industrial Partners Inc. — the outcome of years of wrangling over the company’s future between management, the government and activist shareholders.

Lenders Sumitomo Mitsui Banking Corp. and Mizuho Bank, which provided JIP with financing totaling ¥1.2 trillion ($8.2 billion), will be represented at Toshiba, the people said. 

Fumiharu Kozuka, Sumitomo Mitsui’s former senior managing executive officer, will join Toshiba’s board, as will JIP President Hidemi Moue, the people said. Mizuho may select a representative to join as an auditor, they said. 

Toshiba may announce its new leadership as early as this week, said the people, who asked not to be identified as the information is private.

Toshiba is in discussion with JIP about its management structure, a Toshiba spokesperson said. Representatives from JIP, Sumitomo Mitsui Bank and Mizuho Bank declined to comment.

A former banker, Ikeya joined Mitsubishi Motors in 2016. He left in June to join JIP.

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