TEPCO president resigns from post Managing Director Nishizawa to succeed him

May 20, 2011, Tokyo, Japan - Managing Director Toshio Nishizawa of Tokyo Electric Power Co. speaks during a news conference at its head office in Tokyo on Friday, May 20, 2011. President Masataka Shimizu announced his resignation during the news conference, saying he will step down to take responsibility for damaging the public's trust and causing inconvenience. The utility company, known as TEPCO, logged a The utility company, known as TEPCO, logged a fiscal-year net loss of $1.528 billion, the largest annual loss in Japanese corporate history outside the financial sector, from the crisis at its Fukushima No. 1 nuclear power plant. The utility company, known as TEPCO, logged a fiscal-year net loss of $15.28 billion, the biggest annual loss in Japanese corporate history outside the financial sector, from the crisis at its Fukushima No. 1 nuclear power plant, which has been crippled since the March 11 earthquake and tsunami. (Photo by Natsuki Sakai/AFLO) [3615] -mis-