Monday, 25 August 2008

Fuld not The Man at Lehman!

The Observer reported on Sunday that Richard Fuld the-in-trouble chief executive of the investment bank Lehman Brothers is fighting an internal battle to keep his job.

The company has lost nearly 80% of the value of its share price this year despite the stock price surging last Friday as a result of take-over speculations.

But even if a buyer comes forward, still Fuld will have to step down from his position according to well informed sources within the company.

According to The Observer Lehman's Chief Operating Officer Bart McDade is carrying out several of Fuld's previous duties.

Leman chart

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