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Oh hey, more terrible news. Unofficial DealBreaker mascot and my personal Jesus, Albert Lord, has been demoted; effective I don’t know when, Anthony Terracciano is Chairman of the Board. Insiders says that Tony previously worked at a bunch of banks, and doesn't curse on analyst calls. Coming right out and saying it is me- this is ridiculous.
Al will continue in his capacity as chief executive, in addition to the lesser role of Vice Chairman of the Board, and in a most sickening turn of events that can only mean one thing (Ludovico technique), The Lord has been brainwashed into A. conducting business/conference calls in an “manner befitting the head of a public company” B. Believing that this whole thing was his idea.
Says the patient: “In a variety of chief executive and board leadership roles, Mr. Terracciano has a long and successful track record of delivering on his commitments to shareholders. When I asked the Board to consider returning to a split of the chairman and chief executive positions, Tony was the logical choice to lead the Board." If you, too, think this is BS, I encourage you to air your grievances in the form of a Molotov-cocktail through the front window of your local Sallie Mae branch office. It probably won’t change anything, but it’ll show them we mean business.
Earlier: "And I'll Just Leave It At That"
Sallie Mae Appoints Tony Terracciano Chairman of the Board [Reuters]


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