The former presidents of Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan -- the three components that on April 1 merged into two banks under Mizuho Holdings Inc. -- will step down to take responsibility for the sputtering group's ongoing computer snarls.
The announcement came Tuesday from Yoshiro Yamamoto, who resigned as president of Fuji at the end of March, as did Dai-Ichi Kangyo President Katsuyuki Sugita and IBJ President Masao Nishimura. In addition, the three also resigned as CEOs of Mizuho Holdings.
The three were given the title special adviser at Mizuho Holdings. In Japan, former top executives are often given these positions, which allow them to continue exerting influence and pull down hefty salaries.