Photographer: Tomohiro Ohsumi/Bloomberg

Old Boys' Network Stripped of Sway in Mizuho's New CEO Selection

  • Naming of Sato's successor to test bank's governance overhaul
  • Chairman says ex-bosses `have no avenue of direct influence'

Mizuho Financial Group Inc. is doing away with the kind of opaque leadership selection process that’s common in the nation, vowing to ensure its next chief executive is chosen openly and fairly.

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