Tokyo Electric Power Co. said Tuesday it will promote managing director Naomi Hirose as the next president of the ailing utility, which is expected to be effectively nationalized as it struggles to cope with the Fukushima No. 1 nuclear plant crisis that started last year.

The 59-year-old executive is in charge of compensation issues related to the catastrophe and has apparently received recognition for firmly handling his job. The promotion was decided at an extraordinary board meeting.

Tepco has been looking for candidates for the company's top management position as current Chairman Tsunehisa Katsumata, 72, and President Toshio Nishizawa, 61, are expected to step down at the utility's annual shareholders' meeting in June as a gesture of taking responsibility for the triple-meltdown crisis.