Hope for the unemployed: Fukushima exec lands new gig
Sometimes the jokes write themselves.
Here’s the setup. Masataka Shimizu was the president of Tokyo Electric Power until last May. He was the head of the company when its Fukushima nuclear plant was crippled by last year’s earthquake and tsunami, and he led Tepco’s much-criticized response.
Last May, he resigned his position. So who hires a man whose leadership failures appear to have contributed to the irradiation of large areas of Japan? To a $26 billion drop in his company’s value?
And here’s the punchline. From a BBC report:
On Monday, Mr Shimizu starts his new role as an external board member at Fuji Oil Company.
Ah, yes. The oil industry.
Tepco and Fuji Oil Company’s parent, AOC Holdings (AOCHD), have a close relationship. Tepco is AOCHD’s biggest shareholder, with an 8.7% stake.
There is public anger that Mr Shimizu has a new job so soon after the Fukushima disaster.
Mr Shimizu’s new employer says the firm is keen “to use his profound experience in the energy sector,” but did not comment further on his role or his salary.
“Profound experience,” indeed.
Tepco ex-executives get golden parachute, BBC.