James Cayne, the chairman and chief executive of Bear Stearns Cos., under fire from shareholders after the Wall Street firm was badly burned by the downturn in the mortgage market, is stepping down as CEO, say people familiar with the matter.Nothing all that surprising when one considers Cayne's reputation as a hands-off executive who even during the height of the sub-prime crisis remained aloof while Bear Stearn's possible survival had been at stake. According to the Journal, Cayne will remain Chairman. Speculation continues that Alan Schwartz, Bear Stearns' president will take Cayne's place as CEO.
Stay tuned.
For more:
CNBC
Reuters
Portfolio.com
Bloomberg
Forbes
Market Watch
Guardian
Financial Times
CNN Money
No comments:
Post a Comment