Tokyo Stock Exchange Head Miyahara Resigns After Outage
- TSE president steps down to take responsibility for halt
- Japan Exchange CEO Kiyota to retain post, add Miyahara’s role
Koichiro Miyahara
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Tokyo Stock Exchange president Koichiro Miyahara will step down to accept responsibility for the all-day outage that halted trading on the world’s third-largest equity market last month.
Akira Kiyota, the chief executive officer of parent Japan Exchange Group Inc., will retain his post while taking a 50% pay cut for four months. Kiyota will temporarily take over Miyahara’s role as head of the exchange, with Miyahara also stepping down from his role as co-chief operating officer of Japan Exchange. The resignation was earlier reported by the Nikkei.