Masataka Shimizu

Masataka Shimizu (清水 政孝 Shimizu Masataka, born June 23, 1944) is a director of Fuji Oil Company, and was the president and chief executive officer of Japanese electric utility Tokyo Electric Power Company (Tepco) from 2008 to 2011. He was also a vice-chairman of Keidanren, the employers' federation of the companies of Japan,^[1][2] until he stepped down after the Fukushima Daiichi nuclear disaster.^[3] On July 25, 2012 he became an outside director of Fuji Oil.^[4][5]

Biography

Shimizu was born in June 23, 1944 in Kanagawa Prefecture, and graduated from Keio University in 1968. He was placed in charge of general affairs for Fukushima Daini Nuclear Power Plant in 1983. He was appointed president of Tepco in June 2008.^[6]

President of Tepco

Before his presidency, an earthquake in Niigata in 2007 caused fire and radioactivity releases at the Kashiwazaki-Kariwa nuclear plant, forcing the plant to shut down.^[7] As a cost cutter, he was praised for improving profitability of the company.^[8]

On January 18, 2011, Shimizu attended the annual meeting of World Economic Forum,^[9] stating said that his company sought to provide a “stable supply of electricity and environmental protection”.^[10]

After the Fukushima Daiichi nuclear disaster

Following the March 2011 Fukushima Daiichi nuclear disaster, Shimizu remained inside the general headquarters for two weeks beginning on March 13, 2011, two days after the 2011 Tōhoku earthquake and tsunami.^[11] Because of his disappearance, it was rumored that Shimizu had fled or committed suicide.^[12] An April 7, Shimizu resumed work after a sick leave due to overwork.^[13] On May 20, Shimizu resigned and was replaced by Toshio Nishizawa, general ex-director of the group Tepco.^[14]

On March 7, 2012, before the anniversary of the disaster, Tepco announced that Chairman Katsumata Tsunehisa would attend the memorial ceremony. However, they refused to release the schedule of Shimizu.^[15] On June 25, 2012, Shimizu became an outside director of Fuji Oil Company, a subsidiary of AOC Holdings. On October 1, 2013, AOC Holdings absorbed Fuji Oil and subsequently renamed Fuji Oil Company, Ltd. Since then Shimizu has been a director of the new Fuji Oil Company. Tepco is the largest shareholder of Fuji Oil Company (TYO: 5017), owning 8.74% of the stock.^[16]

References

1. Officers of Nippon Keidanren : Chairman, Vice Chairmen
2. Keidanren website "Watch Your Step" Retrieved on July 9, 2012
3. Asahi Shimbun 東電社長、経団連副会長と電気事業連合会会長辞任の意向 Retrieved on July 9, 2012
4. BBC website Tepco appointment stirs public anger in Japan Retrieved on July 5, 2012
5. BBC website Tepco ex-executives get golden parachute Retrieved on July 5, 2012
7. When it comes to mighty Tepco, pride goes before the fall, The Japan Times, Tuesday, May 17, 2011
8. Japan mulls nationalising Fukushima nuclear plant company, The Guardian, 29 March, 2011
9. World Economic Forum Annual Meeting
10. A Who’s Who of Davos AbsenteesJACK EWING
11. Liberation - 25/03/2011: The mysterious disappearance of the chairman of Tepco
13. 20 Minutes - 07/04/2011: Fukushima: The owner of Tepco resumed work after a stop disease
14. Le Figaro - 20/05/2011 - [Tepco http://www.lefigaro.fr/societes/2011/05/20/04015-20110520ARTFIG00383-tepco-change-de-pdg-apres-une-perte-due-a-fukushima.php changes chairman after a loss due to Fukushima]
15. 発生１年の１１日に会見せず
16. Annual Reports Fiscal Year 2016(Apr.1, 2015 - Mar.31, 2016) Fuji Oil Company, Ltd.