Erin Callan was appointed Chief Financial Officer and Executive Vice President of Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, in 2007.
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)
Lehman Brothers Facts
- Founded in 1850
- Headquarters: New York City
- Regional headquarters in Tokyo, Japan and London, England
- Number 47 on the 2007 Fortune 500 list
- New York Stock Exchange ticker: LEH
Quotes
"For her to take the fall for these financials seems at a minimum disingenuous and possibly deceitful as well."MarketBeat (WSJ): Lehman’s Callan Gets the Axe; Shares Drop 9% (June 12, 2008)—Jon Najarian, The Wall Street Journal
"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