The executive turnover continued across the tech world today, as Toshiba announced that CEO Atsutoshi Nishida will be stepping down from his current position in June. Pending shareholder approval, the company's current head of infrastructure systems, Norio Sasaki, will step in to head the company. Nishida will move to a chairman position, replacing Tadashi Okamura, who is set to become a board adviser.

The news of the executive shakeup comes on the heels of a record loss for the company. Other major Japanese technology firms have announced management changes in the pas year, including Sony, Honda, Toyota, and most recently, Hitachi, which announced two days ago that its president would be stepping down.

Nishida, who had been running he company since 2005, insisted that his decision to step down had nothing to do with the company's recent economic struggles.