Central Pacific Financial Corp. announced that, effective October 1, 2018, Paul K. Yonamine, a current outside director of CPF and CPB, will assume the positions of Chairman and Chief Executive Officer of CPF, and Executive Chairman of CPB. Yonamine joined the Boards of Directors of CPF and CPB in June 2017, and his new appointments were approved by both boards on September 25, 2018.

Catherine Ngo will continue to serve in the capacities of President and Chief Executive Officer of CPB, President of CPF, and director of the CPF and CPB Boards of Directors. John Dean, the current Chair of the CPF and CPB Boards of Directors, will remain a director of both boards. Yonamine currently serves as Executive Chairman of GCA Corporation.

Yonamine served as President and Country General Manager of IBM Japan Ltd. until March 2017.