The 56-year-old will replace Tatsufumi Sakai, 62, effective on
The newly appointed president said at a press conference that he will focus on "ensuring stable operations of the system and services" as a top priority.
"With deep reflection on the series of the system failures, we will assure our customers of our unwavering resolve" to revamp the group's operations, Kihara said.
The new management team will be formed as Mizuho looks to overhaul its rigid corporate culture, a major factor that is believed to have led to the 10 system failures of varying degrees it experienced over less than a year.
All eyes are now on whether
The plans include measures to improve communication between management teams and onsite IT staff, as well as within the wider Mizuho group, as urged in a business improvement order made last November by the regulatory body.
When the FSA issued the improvement order, the agency said the Mizuho group cut back IT personnel and maintenance costs without an adequate assessment of what risks the policy could pose.
The regulators also criticized the financial group's corporate culture to "refrain from saying what needs to be said and only to do what was instructed."
In the first case of the system failures, transactions were temporarily suspended on
The latest incident on Tuesday last week caused corporate clients to experience trouble using online banking services.
==Kyodo
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