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Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.
Hewlett-Packard Co. shocked Wall Street Friday afternoon with the announcement that its chairman and chief executive, Mark Hurd, is resigning immediately in the wake of a sexual harassment investigation that revealed ethics issues.
General Motors Corp said on Tuesday that former chairman and chief executive of AT&T Inc Edward Whitacre will become chairman of the restructured automaker later this summer.
Shareholders stripped Kenneth D. Lewis of his chairman’s title in a vote that may mark the beginning of the end of his leadership at the embattled bank.