Wachovia CEO Thompson Shown the Door After 32 Years of Service, WaMu’s Killinger Steps Down as Chairman
Posted on June 03, 2008 at 12:35 PM EDT
G. Kennedy Thompson, formerly Wachovia Corp.’s (WB) chief executive officer, can now be added to the list of high-profile subprime casualties that already includes Citigroup Inc.’s (C) Charles O. “Chuck” Prince III, The Bear Stearns Companies Inc.’s (BSC) Chief Executive Officer James E. “Jimmy” Cayne, and Merrill Lynch & Co. Inc.’s (MER) E. Stanley “Stan” O’Neal. Thompson will step down after 32 years of service after having made a series of untimely - and ultimately disastrous - decisions that have cost the company nearly half its market value over the past year. Shareholders began clamoring for Thompson’s removal in April after the…