JERA Promotes Two Vice Presidents to CEO and COO Positions

JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric, announced on Wednesday that two of its vice presidents have been promoted to the company's new top executives.

JERA announced that vice president Hisahide Okuda will become chief executive and chief operating officer, while vice president Yukio Kani will become global chief executive.

According to the company, Toshihiro Sano, the chairman, and Satoshi Onoda, the president, would both become directors. It did not explain why the changes, which will take effect on April 1, were made.

JERA is a 50-50 joint venture founded in April 2015 by TEPCO Fuel & Power, a wholly owned subsidiary of Tokyo Electric Power Company, and Chubu Electric Power. The company acquired and operated all of Tokyo Electric and Chubu Electric's thermal power plants, giving it a total output of approximately 67 million kW (including capacity under construction), making it Japan's largest power generation company. The generated electricity is wholesaled to retail electric utilities such as TEPCO Energy Partner and Chubu Electric Power, rather than being delivered directly to consumers.