U.S. Toshiba subsidiary appoints new VP-CFO

U.S. Toshiba subsidiary appoints new VP-CFO Toshiba America Business Solutions Inc. said Wednesday it has appointed Michael Torcaso as vice president and chief financial officer.
   In his new role, Torcaso will lead the financial planning and accounting functions at the $275 million-a-year TABS, including all U.S. and Latin America subsidiary operations, and oversee leasing, internal and external audit coordination, treasury functions and Japan’s Financial Instruments and Exchange Law.
   Since 2004, Torcaso has served as vice president of finance for TABS managing the division's financial planning and accounting including wholesale, manufacturing, retail and leasing aspects of the business. Torcaso joined TABS after several years of working for Toshiba America Information Systems Inc. as controller of PC manufacturing. Prior to joining Toshiba, he worked for Rockwell International, Merrill Lynch and Arthur Young & Co.
   Irvine-based TABS manages product planning, marketing, sales, service support and distribution of copiers, facsimiles, multifunction printing products, network controllers, and toner products throughout the United States, Mexico, Latin America, and the Caribbean. The firm is a subsidiary of the Tokyo-based Toshiba Corp., the seventh-largest electronics/electrical equipment company and the world’s 87th-largest company in terms of sales. Toshiba Corp., with more than 300 major subsidiaries and affiliates worldwide, reported 2006 sales of about $53.9 billion and $664 million in income.