Politics

Wachovia CFO Steps Down After Second Quarter Losses

Wachovia Corp. says Chief Financial Officer Thomas Wurtz will leave the company after a successor has been named. Charlotte-based Wachovia will begin an immediate search for a replacement. On Tuesday, Wachovia reported a second-quarter net loss of $8.9 billion, or $4.20 per share, and the elimination of 10,750 jobs. The net loss included a $6.1 billion noncash goodwill impairment charge reflecting declining market valuations and asset values.
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Posted by Editor at July 25, 2008 01:01 PM