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Washington Mutual Fires CEO
Daniel Shepard (September 8th, 2008) Writes:
Washington Mutual (WM) on Sunday, announced that it is replacing its CEO Kerry Killinger with Alan Fishman. Alan Fishman is currently the Chairman of commercial mortgage broker Meridian Capital Group. He was also the President and CEO of Sovereign Bank up until 2007.
Washington Mutual (WM) lost $3.6 billion in the quarter that ended June 30 and the bank expects that its mortgage related losses could run between $12 billion and $19 billion in 2008.
Washington Mutual (WM) is another victim of the credit crisis. Its stock which is currently trading at $4.27, has lost 68% this year and as foreclosures keep increasing nationwide, the company’s losses keep mounting.
Tags: WAMU Washington Mutual
Tags for this Post:
Alan Fishman, Bank, Kerry Killinger, Meridian Capital Group, mortgage broker, Sovereign Bank, Stocks to Watch, USD, Washington Mutual
Alan Fishman, Bank, Kerry Killinger, Meridian Capital Group, mortgage broker, Sovereign Bank, Stocks to Watch, USD, Washington Mutual
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