Salt Lake Tribune (UT) (06/02/08)
Wachovia has fired CEO Ken Thompson less than a month after relieving him of his position as chairman. The board ousted Thompson as Wachovia continues to struggle with its widening losses linked to its acquisition of troubled Golden West Financial, and there is speculation that the company could deliver more bad news or might be taken over. The credit crisis has now claimed its third CEO of a major U.S. financial institution. Meanwhile, Washington Mutual--which has also suffered huge losses from the mortgage and credit crises--has stripped the chairman title from CEO Kerry Killinger. Stephen Frank, lead director on its board, will become chairman as of July 1.
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