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Tepco to name Mitsubishi Chemical's Kobayashi as chairman

Japanese utility looks to improve governance with change at the top

Yoshimitsu Kobayashi is set to assume the lead at Tepco in order to improve governance at the troubled company.

TOKYO -- Tokyo Electric Power Co. has entered into final negotiations with the government to hire Mitsubishi Chemical Holdings Chairman Yoshimitsu Kobayashi as its chairman, Nikkei has learned.

Tepco has been under pressure to improve its governance, as serious safety flaws were found at its Kashiwazaki-Kariwa nuclear power plant in Niigata Prefecture.

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