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Govt, FSA get their man for Resona job Banking group's lis.
(From The Yomiuri Shimbun/Daily Yomiuri)
Govt, FSA get their man for Resona job Banking group's list of preferred chairmen ignored, railway executive chosen
Yomiuri
In appointing Eiji Hosoya, vice president of East Japan Railway Co., to chair Resona Holdings Inc., the government and the Financial Services Agency rejected a list of candidates backed by the newly nationalized banking group.
Resona Holdings Inc. applied for an injection of public funds Friday and became officially nationalized.
Although Resona hoped the new chairman would be a leader from the Kansai business circle, the government and FSA selected someone through their connections with the Japan Association of Corporate Executives (Keizai Doyukai)--which appears to be the preferred selection method of Prime Minister Junichiro Koizumi's Cabinet.
The government and FSA have taken a strong stance over Resona appointments and restructuring plans, which are yet to be completed.
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