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We continue to mourn last month's passing of Naresh Sheth. Naresh was the President of the Bank and its second-most senior executive officer. The office of President is a key position within the Bank, impacting all aspects of the Bank's operations and strategic direction. Therefore, it may take some time for the Bank and its Board of Directors to find and appoint a permanent replacement.
Effective immediately, the Board of Directors has taken action to appoint Mr. Kazuhisa Miyagawa as Interim President of the Bank to provide continuity of leadership and management. Continuing as the Bank's current Chairman and Chief Executive Officer, and with his prior experience as President and Deputy CEO of PT Bank Sumitomo Mitsui Indonesia, Mr. Miyagawa is well positioned to lead Manufacturers Bank through this transition.
Please join us in wishing Mr. Miyagawa continued success.
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