NEW YORK (CNNMoney.com) -- Wachovia Corp. chief executive officer Ken Thompson will step down at the request of the bank's board, it was announced Monday, marking the latest CEO casualty of the credit crunch.
Thompson, a 32-year veteran at the Charlotte-based bank, will be replaced on an interim basis by Lanty Smith, the firm's current chairman.
Wachovia (WB, Fortune 500) shares fell more than 2% in premarket trading on the news.
Thompson, a 32-year veteran at the Charlotte-based bank, will be replaced on an interim basis by Lanty Smith, the firm's current chairman.
Wachovia (WB, Fortune 500) shares fell more than 2% in premarket trading on the news.
It's amazing how you can be at the top of your game today and trailing behing the next.
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