On June 12, 2008, Callan, along with Chief Operating Officer and President Joseph Gregory, were been removed from their positions. The move came days after Lehman Brothers announced a $2.8 billion quarterly loss.The New York Times: 2 Top Executives Removed at Lehman Brothers (June 12, 2008)

1. Became CFO on December 1, 2007
2. Previously an attorney with Simpson Thacher & Bartlett
3. Alma Mater: Harvard College, magna cum laude
4. Law School: New York University
5. June 12, 2008: Removed from position at Lehman Brothers Holdings Inc
6. Will return to the investment banking division of the companyThe New York Times: 2 Top Executives Removed at Lehman Brothers (June 12, 2008)

1. Founded in 1850
2. Headquarters: New York City
3. Regional headquarters in Tokyo, Japan and London, England
4. Number 47 on the 2007 Fortune 500 list
5. New York Stock Exchange ticker: LEH

"Ms. Callan’s rise also shows that the formula for fending off a repeat of the crisis of confidence that sank Bear, threatened Lehman and still hovers over Wall Street includes both salesmanship and smarts."MarketBeat (WSJ): Lehman’s Callan Gets the Axe; Shares Drop 9% (June 12, 2008)—The Wall Street Journal