Bear Stearns’ CEO, James Cayne, will be stepping down from the CEO position, but will remain as chairman of Bear Stearns (BSC). It’ll be interesting to see how BSC opens tomorrow. My guess it BSC will gap up first thing in the morning barring any other news. I’m curious to know if his stepping down has anything to do with the probe of BSC by the State of New York. In any event, that’s now the 3rd CEO/President to step down from a large financial firm off the top of my head (Chuck Prince, C and Stan O’Neal, MER).
Monday, January 7, 2008
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