Reshuffle at TEPCO's

March 31, 2017

Tepco picks new young leader Kobayakawa to take reins of reform

http://www.japantimes.co.jp/news/2017/03/31/business/corporate-business/tepco-picks-new-young-leader-kobayakawa-take-reins-reform/#.WN-3lmekKos

Kyodo

Tokyo Electric Power Company Holdings Inc. said Friday it will appoint Tomoaki Kobayakawa, the 53-year-old head of the group’s electricity retail arm, as president, rejuvenating top management amid increasing pressure for corporate reform.

The operator of the disaster-hit Fukushima No. 1 nuclear plant also named Takashi Kawamura, honorary chairman of Hitachi Ltd., as chairman to back the new president. The company said it will seek shareholder approval for the management reshuffle in June.

Kobayakawa, the president of Tepco Energy Partner Inc., will replace 64-year-old Naomi Hirose. Kobayakawa has been taking initiatives in response to liberalization in the electricity and gas sectors. He will now deal with the continuing fallout from the March 2011 triple core meltdown.

Hirose will take up the new post of vice chairman, which is not a member of the board, responsible for compensation for damage caused by the nuclear disaster.

At a board meeting Friday, the government, which holds a majority stake in the utility, acknowledged that Tepco needs to revamp its business revitalization plan and reshuffle management amid the soaring decommissioning and compensation costs, which are projected to hit about ¥22 trillion ($196.6 billion), nearly double the 2013 estimate.

Kawamura, a 77-year-old corporate heavyweight in the business community, is a member of the government panel discussing Tepco’s new reform plan and has been credited with Hitachi’s successful restructuring. He will replace Fumio Sudo, 76.

March 27, 2017

TEPCO to reshuffle top managers

https://www3.nhk.or.jp/nhkworld/en/news/20170327_13/

Some big changes are in store for the boardroom of the company that operates the Fukushima Daiichi nuclear plant. A planned reshuffle at Tokyo Electric Power Company Holdings is aimed at speeding up work at the crippled plant and moving ahead with business reforms.

The government owns a majority of the shares in TEPCO Holdings, giving it effective control. The company faces a decades-long task of decommissioning the melted down reactors and paying compensation.

Sources say government officials are now putting the finishing touches on a plan to replace Chairman Fumio Sudo. Taking his place will be Takashi Kawamura, chairman emeritus of electronics-maker Hitachi.

TEPCO Holdings President Naomi Hirose will become vice chairman and he's going to focus on efforts to help revitalize Fukushima Prefecture.

Tomoaki Kobayakawa, who heads the group's retail unit, will be taking over his job.
TEPCO plans to hold a board meeting as early as Friday to formally approve the new lineup.

TEPCO to reshuffle top management, promote Kobayakawa to president

http://mainichi.jp/english/articles/20170327/p2g/00m/0bu/004000c

TOKYO (Kyodo) -- Tokyo Electric Power Company Holdings Inc., operator of the disaster-hit Fukushima nuclear power plant, will reshuffle its top management, promoting Director Tomoaki Kobayakawa to president, people close to the matter said Sunday.

The company, known as TEPCO and effectively controlled by the Japanese government, will finalize the new management team by the end of this month and seek shareholder approval in June, they said.

Kobayakawa, 53, will replace Naomi Hirose, 64, who will take up the new post of vice chairman responsible for compensation paid for damage caused by the nuclear disaster triggered by a massive earthquake and tsunami in March 2011.

Takashi Kawamura, the 77-year-old honorary chairman of Hitachi Ltd., will become TEPCO chairman, replacing Fumio Sudo, 76.

The management changes come as a government panel of experts is finalizing a business revitalization plan.

With the disaster cleanup cost now projected at 22 trillion yen ($198 billion), nearly doubled the 2013 estimate, government officials and the power company's outside directors agreed that a new management team should lead fresh reform efforts, according to the sources.

Hirose has been serving as TEPCO president since June 2012. His appointment as vice chairman may face some opposition within the company as the move would effectively be a demotion, the sources said.

Kawamura is currently a member of the government panel discussing TEPCO's new reform plan and has been credited with Hitachi's successful restructuring.

See also : http://www.japantimes.co.jp/news/2017/03/26/business/corporate-business/state-taps-director-kobayakawa-become-tepcos-next-president/