Lehman Brothers CFO and COO Resign With Stock Down 32% in a Week

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A pair of top executives at Lehman Brothers have resigned with shares of the company in freefall.

Shares of the company are trading down 3% to $22.87 ahead of the open. Since the close on June 5, shares of Lehman are down 32.7%.

Chief Financial Officer Erin Callan and Chief Operating Officer Joseph Gregory have resigned, according to multiple news services. They will reportedly be replaced by Ian Lowitt and Bart Mcdade, respectively.

All data taken at 9:00 a.m. EDT.

By Adam Button, abutton@economicnews.ca, edited by Cristina Markham
©CEP News Ltd. 2008

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Lehman Brothers CFO and COO Resign With Stock Down 32% in a Week

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