The chairman of Kansai Electric Power Co has decided to resign, media reported on Wednesday, in a reversal of his stated intention to stay just a week ago amid a graft scandal that has rocked public trust in Japan’s second-largest utility.
Chairman and former president Makoto Yagi has informed several people at Kansai Electric of his intention to step down due to growing criticism from the government, local authorities, and the public, the Asahi newspaper and others reported.
President Shigeki Iwane is also expected to resign at a later date, after the conclusion of a third-party investigation into the scandal, the Nikkei business daily reported. Yagi’s resignation is likely to be discussed at a board meeting on Wednesday, the Nikkei said.
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