The UFJ financial group said Wednesday its three top managers will be ousted because the group failed to achieve its profit goals, company officials said.
The personnel committee of one of Japan's four major banking groups decided that UFJ Holdings Inc. President Takeshi Sugihara, UFJ Bank President Masashi Teranishi and UFJ Trust Bank President Yasukuni Doi will be replaced. The committee comprises outside directors.
Sugihara will be replaced by UFJ Bank Vice President Ryosuke Tamakoshi, Teranishi by UFJ Bank senior corporate officer Takamune Okihara and Doi by UFJ Trust Bank Vice President Shintaro Yasuda, they said.