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Gasparino: CFO Erin Callan, COO Joseph Gregory Out At Lehman Brothers

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CNBC's Charlie Gasparino reports that Lehman Brothers has fired CFO Erin Callan* and COO Joseph Gregory. Ian Lowitt will take over as CFO and Bart McDade will be named president and COO. Gasparino said Fuld felt the reorganization was necessary because the dropping stock indicated the market had lost confidence in his team. We're not buying that the ugly green suit didn't factor into Fuld's decision.
*Supposedly she'll "rejoin" the investment banking unit. That won't be weird or anything.