Japan: TEPCO President Steps Down Over Fukushima Nuclear Crises

Masataka Shimizu, the president of Tokyo Electric Power Co., stepped down Friday amid spiraling financial losses related to the ongoing nuclear crisis at the crippled Fukushima Dai-ichi power plant.

Shimizu's resignation was widely expected, and it came on the same day the utility, commonly known as TEPCO, reported the biggest losses in the history of the company. "[The Fukushima crises] has caused a caused a considerable amount of anxiety and burdened the public tremendously," Shimizu told reporters. "Considering those factors, I must take responsibility. It's important to draw a line, right now."