2008-06-02 — bloomberg.com
Wachovia Corp. ousted Kennedy Thompson as chief executive officer of the fourth-largest U.S. bank after the board blamed him for losses that cost the lender more than half its market value in the past year. The stock fell as much as 4 percent.
Chairman Lanty Smith was appointed interim CEO, the Charlotte, North Carolina-based company said today in a statement that cited ``a series of previously disclosed disappointments and setbacks'' for the change. Thompson quit at the board's request, the statement said. Separately, Washington Mutual Inc. said its CEO will step down as chairman.
Not entirely unpredictable. They must still be smarting from that Golden West acquisition, too.
So long, Gamblin' Ken.
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