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By a margin of eight votes -- 558 to 550 -- Chicago Board of Trade members ousted David Brennan and elected an independent trader, Nickolas Neubauer, to carry on the restructuring of the 152-year-old futures exchange.
In 1997, the CPC's Fifteenth National Congress put forward the SOE reform idea of "focusing on the restructuring of major enterprises while leaving minor ones to fend for themselves".
The bank declined to comment on the restructuring programme.
N.A.S.D. members are scheduled to vote on the restructuring plan in May.
"We did not make much headway on the restructuring plans today," said a bank official.
Shares of Ricoh jumped 7.2 percent in Tokyo on the restructuring news, which was first reported by the Nikkei newspaper.
The Australian, a News Ltd. newspaper, said Monday that executives would brief investors on the restructuring this week.
Chief executives and powerful politicians had gathered to celebrate his new book on the restructuring of the American auto industry.
Final decisions on the restructuring of the bank based on the commission's recommendations are due on 2 July.
Mr. Workman, a 21-year veteran of the bank, most recently served as the head of the asset protection program, a role that focused on the restructuring effort.
This week's German plan to set up several bad banks was no more than a down payment on the restructuring ahead.Japan has acted more boldly.
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