Stanley O'Neil resigns as Merill Lynch CEO
Nov 01, 2007
Movers and Shakers
After presiding over the worst ever quarterly losses suffered by Merrill Lynch, CEO Stanley O’Neil has “resigned” from the company.
What is even more amazing is the extent to which his golden parachute could tide him over his new “unemployed” status. It seems unthinkable that after all the carnage he was partly responsible for, he will still walk away with a package of almost $400-500 million even as the company continues to bleed.
BlackRock Inc. CEO Laurence Fink and Merrill Co- President Gregory Fleming are tipped to be in the lead to take over from O’Neal.
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