Group CEO Tatsufumi Sakai and Chairman Yasuhiro Sato, as well as the head of the main banking unit and executives in charge of the group's systems and compliance, will step down by April.
The president of Mizuho Financial Group Inc. and the head of subsidiary Mizuho Bank are stepping down to take responsibility after the holding company and the bank were slapped with a business improvement order from the Financial Services Agency on Nov. 26.
The glitches were caused by a reduction in the number of related personnel, which ultimately weakened Mizuho's ability to operate and manage its banking system.
The Mizuho Financial Group Inc. and Mizuho Bank Ltd. announced Nov. 26 that their three top executives would resign following a devastating Financial Services Agency investigation that faulted management for eight computer glitches at the megabank this year.