Central Pacific Financial Corp. said today that its President and Chief Executive Officer Clint Arnoldus will retire at the end of the year.

Arnoldus, 61, has served with the company since 2002 and spearheaded the 2005 merger between Central Pacific Bank and City Bank, then the state's fourth and fifth largest financial institutions.

The company said its board of directors will begin a search for Arnoldus' successor.