Chubu Electric Power Company, Incorporated | Dismissal of Director (1) at Chubu Electric Power Company, Incorporated

Status
AGM passed
AGM date
Previous AGM date
Proposal number
5
Resolution details
Company ticker
9502
Lead filer
Undisclosed filer
Resolution ask
Amend board structure
ESG theme
  • Governance
ESG sub-theme
  • Whistleblowing
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The following Director shall be dismissed: Director: Satoru Katsuno
Supporting statement
Mr. Katsuno has served as President of the Company since June 2015 and as Chairman since 2020. According to media reports, the data falsification related to the design basis ground motion at the Hamaoka Nuclear Power Station began around 2018, and an internal whistleblowing report was allegedly made around 2020. Although the extent Mr. Katsuno’s direct involvement remains unclear as of the time of this proposal, it is evident that serious governance failures existed, including the inability to prevent the data falsification and the failure of the internal reporting system. Even if Mr. Katsuno was not directly involved, he is gravely responsible for such governance. Serious lack of governance capacity clearly disqualifies Katsuno for a director.

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