Tokyo Stock Exchange lets CEO resign to atone for October outage, other execs take pay cuts and rebukes

Miyahara Koichiro, the CEO of the Tokyo Stock Exchange (TSE), has resigned in the wake of its October outage. The exchange’s operator, Japan Exchange Group, accepted his request to stand down. The IT breakdown saw the world’s third-largest stock exchange take an unplanned day off due to what was described as “a technical …

[veti]

Good news

CEOs should resign more often.

Also presidents.

[Chris G]

At least resignation was an option

There was a time in Japan when those responsible for a disaster would be instructed to commit seppuku.

[Anonymous Coward]

Re: At least resignation was an option

You could now get away with dogeza.

[Chris G]

Re: At least resignation was an option

Dogeza in public should be introduced to British politics but I suspect they would find a way to devalue it.

[Anonymous Coward]

Re: At least resignation was an option

There was a time in England when those responsible for disaster would have their head removed from their shoulders.

[Anonymous South African Coward]

One good reason to test a failover plan. Have somebody play BOFH and bork something deliberately in order to check if fallback devices will actually work.

[Anonymous Coward]

Many years ago corporate IT were asked to take over ownership of a system which had been built by an outside team. Fine, provided the developers write a recovery plan then test it by reformatting the disk drives. You can guess what happened.

[codejunky]

Live and learn

Everything is as bulletproof as circumstances allow. There is always a weak spot and you can only try to find them all. Sounds like they did what they could to handle the situation as it got worse.

[Potemkine!]

A CEO resigning without having a big paycheck? Or without a golden parachute? That would be shocking for the C-class

[Pascal Monett]

Well finally !

There is finally one place in the world where the top-levels are bashed for a mistake, not the peons.

Nice to see it happen at least once.

[l8gravely]

They need a Chaos Godzilla

the TSE needs a chaos godzilla, which causes havoc at random times, but which really has Japan's back when it comes down to it.

And if you don't test your failover, all the time, how do you know it works?

[Claverhouse]

Just Walk It Off...

Worse things happen at sea.

Even before IT, minute disasters such as this happened in both Stock Exchanges and Life. A month passes and it's forgotten, or at least forgettable, like a week-old football match..