Tepco may be run by outside directors

Tokyo Electric Power Co. may have to let outside directors oversee its management if the beleaguered utility is effectively nationalized, sources said. Discussions are also under way to set the size of the public bailout for the operator of the crippled Fukushima No. 1 nuclear plant at around ¥1 trillion, the sources said Thursday. The public fund injection for Tepco is likely to result in the resignation of its top officials. President Toshio Nishizawa is likely to be replaced by an insider, while Chairman Tsunehisa Katsumata may be replaced by someone from outside Tepco, the sources said. (Japan Times)