Pacific Northwest Washington Mutual should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price...
Washington Mutual should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price plunge in the past year, said David Dreman, the bank’s ninth-biggest shareholder.
The company must hold Killinger accountable for its $3 billion in subprime-related losses, Dreman said Friday. His Dreman Value Management owns a 2.7 percent stake valued at about $183 million.
WaMu spokesman Derek Aney said Killinger, as a director, received support of 88 percent of shareholders who voted at the company’s annual meeting in April.
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Compiled from Bloomberg News, Seattle Times staff and The Associated Press