Tokyo Electric Power Company president, Shimizu Masataka, has resigned, and will step down in June.

TEPCo has lost $15 billion.  $12 billion of that is directly due to dealing with the ongoing nuclear disaster at their Fukushima Daiichi plant.

In order to pay compensation to people affected by the radiation disaster, TEPCo will sell off $7 billion in property, and cut $6 billion in operating expenses by laying employees off, and ending research & development.