Tohoku Electric to Promote Higuchi to President

Economy Society

Sendai, Miyagi Pref., Dec. 11 (Jiji Press)--Tohoku Electric Power Co. <9506> said Wednesday that Executive Vice President Kojiro Higuchi will take over the presidency from Hiroya Harada on April 1 next year.

The top management reshuffle comes as the power supplier serving mainly the Tohoku northeastern Japan region is set to mark a turning point in its operations, with its power transmission and distribution businesses slated to be spun off also on April 1.

Higuchi, 62, has long experience in the company's thermal power generation division."I'm ready to act boldly to lead our company's transition to a business model that can properly deal with major changes in our business environment," he told a press conference Wednesday.

Higuchi entered Tohoku Electric, based in Sendai, the capital of Miyagi Prefecture in Tohoku, in 1981 and became executive vice president in June this year.

Harada, the 63-year-old current president, will become a part-time special adviser to the company in June next year. The move breaks with precedent. Many past Tohoku Electric presidents became chairman of the company after stepping down from the top post.

[Copyright The Jiji Press, Ltd.]

Jiji Press