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Kansai Electric president to replace TEPCO head as utility group chief   TOKYO, April 13, Kyodo

The group of Japanese electric power companies plans to appoint Makoto Yagi, president of Kansai Electric Power Co., as its new chairman, sources familiar with the matter said Wednesday. The move came as Tokyo Electric Power Co. President Masakatsu Shimizu intends to give up the chairmanship of the Federation of Electric Power Companies of Japan in the wake of the nuclear crisis at its Fukushima Daiichi power plant, the sources said.

The industry group comprising 10 member firms will formalize the appointment of Yagi at its meeting on Friday, according to the sources. The federation customarily chooses its chairman from among the heads of Tokyo Electric, known as TEPCO, Kansai Electric or Chubu Electric Power Co.

Shimizu declined Wednesday to comment on whether he would resign as TEPCO president to take managerial responsibility for the nuclear crisis, although he plans to resign as vice chairman of Japan's largest business lobby, Nippon Keidanren. The post will remain vacant.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 13th, 2011 at 01:31:38 PM EST
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