Mizuho president to resign for computer failure

[Viva_La_Revolution]

Source: Asahi

Having failed to learn his lesson from Mizuho Bank's previous computer issues, president Satoru Nishibori will step down in June to take responsibility for the recent system failure that caused all automatic tellers in the country to close down soon after the Great East Japan Earthquake.

When Mizuho Bank was created by merging three banks in 2002, attempts to integrate their separate computer systems caused problems. At that time, the three special advisers who had played a leading role in forging the merger, took responsibility and resigned.

Although the three were not directly engaged in bank management when they resigned, as Nishibori is the current president of the bank, his resignation is an acknowledgement of the severity of the latest problem.



Read more: http://www.asahi.com/english/TKY201104230225.html

[KG]

1. by contrast, an american bank president would be given a huge bonus...

in amercan culture, failure by the elites seems to entail no consequences

[Historic NY]

2. YUp.

[drm604]

3. If only it were like that in the U.S.

Here they'd give the CEO a bonus, or if they did fire him he'd have a huge golden parachute.