Lehman CEO Fuld To Step Down By End Of '08

Law360, New York (November 5, 2008, 12:00 AM EST) -- Richard Fuld's tenure as chief executive of Lehman Brothers Holdings Inc. will come to an end before Jan. 1, 2009, and he will receive no bonus pay or severance pay upon departure, in line with a previously agreed upon deal calling for Fuld to stay on board and assist the LBHI estate through its transition.

Fuld offered to step down as CEO immediately after LBHI sold its domestic-broker dealer and investment banking operations to Barclays PLC in September, but LBHI's chief restructuring officer, Bryan Marsal, asked...
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