"Head of Japanese Utility Steps Down After Nuclear Crisis"

"TOKYO — The president of Japan’s troubled power company, Tokyo Electric Power, resigned Friday, shouldering responsibility for the crisis at the Fukushima Daiichi nuclear plant as the utility booked one of the largest yearly losses in Japanese corporate history.

President Masataka Shimizu will step down and be replaced by the senior executive Toshio Nishizawa, the company said.

'I take responsibility for this accident, which has undermined trust in nuclear safety and brought much grief and fear to society,' Mr. Shimizu said at a news conference.

The company also said it booked a net loss of ¥1.25 trillion, or $15.3 billion, for the fiscal year through March, hit by the punishing costs of bringing the Fukushima Daiichi nuclear power plant under control. It was the biggest annual loss posted by any company outside of the banking sector in Japanese history."

Hiroko Tabuchi reports for the New York Times May 20, 2011.

SEE ALSO:

"Tepco's President Steps Down Over Nuclear Crisis" (Washington Post)

"NRC Finds Many U.S. Nuclear Plants Ill-Prepared to Handle Simultaneous Threats" (ClimateWire)

"Japan Nuclear Operator Reports Record Loss" (Aljazeera)

"EU Energy Chief Sees Nuclear Deal In Days" (Reuters)

"UK Nuclear Power Gets Green Light" (Reuters)

"U.S. Reactor Owners May Seek Retrofits to Avoid Japan-Style Nuclear Crisis" (Bloomberg)

"NRC Says San Onofre Plant Can Withstand Quake" (AP)

"Japan Nuclear Crisis Still 'Very Serious' -- IAEA Head" (Reuters)

"Workers Enter No. 3 Reactor Bldg" (Yomiuri Shimbun)

"Video: Fukushima Daiichi, The Inside View" (Wall St. Journal)

"Rare Images of Tsunami Striking Fukushima Nuclear Plant (PHOTOS)" (International Business Times)

Source: NY Times, 05/20/2011