O’Neal Is Officially Out, and JK About That Last Post*

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Merrill Lynch has finally announced the departure of Stan O’Neal**, but is, adorably, referring to it as a retirement, effective immediately. Apparently O’Neal and the board agreed that “a change in leadership” was in the best interest of the firm, in its quest to, and this is actually what they said, “maintain the strong operating performance of it businesses which the company reported last week were performing well, apart from sub-prime mortgages and CDOs.” Alberto Cribiore, a managing parter and founder of the private equity firm Brera Capital, has been named interim non-executive chairman. Ahmass Fakahany and Gregory Fleming will remain as co-presidents and COOs.
According to a press release, Stan feels “very fortunate to spend the past 21 years at Merrill Lynch,” which we bet he really does. He’d also like to “thank all of [his] colleagues for their contributions and support…and wish them the successful future they deserve," as first-year analysts at Bear Stearns.
Stan O’Neal Retires From Merrill Lynch; Alberto Cribiore to Serve as Interim Non-Executive Chairman and Chair Search Committee [Merrill Lynch]
*Yes, we could delete the whole thing and pretend like it never existed by you know what? It did and we don't practice revisionist history at DealBreaker (backdating the time stamps on posts? Yes. We're only human).
**Just wondering-- what do you think Carney's going to do to himself when he finds out this happened while he was being otherwise detained?

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