Stan O'Neal Quits

- October 2007: Merrill Lynch reported a third-quarter net loss of $2.2 billion after writing off $8.4 billion of mortgages, collateralized debt obligations and loans
- Earlier in 2007: O'Neal and other Merrill executives said the subprime mortgage crisis appeared to be overblown
- Merrill elected [http: //www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=932234 Alberto Cribiore] as interim non-executive chairman
- Cribiore will head a search committee to find a new chief executive

October 30, 2007: Stan O'Neal stepped down from his position as CEO at Merrill Lynch.

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