Or how the union will respond to yet another management change at the point.

He will continue as president once the management changes are complete.

"I was on the board of the bank holding company when we needed to go through a management change," he said.

The management change is expected to have no immediate impact.

But during the last year there have been several significant management changes.

The company has been dealing with a series of management changes since 2000.

"I have a hard time thinking there won't be further management changes."

The management changes, which had been expected, were announced after the market closed.

The company is also expected to announce major management changes in the next several days.

"On the surface, this management change does not make good sense."