Wachovia forces out CEO

[kst$]

With all the trouble that banks are in for bad loan practices Wachovia is probably not the only one going to oust their CEO's.

CHARLOTTE, N.C. (AP) - Wachovia's board of directors has asked Chief Executive Ken Thompson to retire.
Thompson has been under fire from shareholders because of recent losses at the bank tied to deterioration in the credit and lending markets.

Wachovia says there was "no single precipitating event" that led to Thompson's ouster.

Wachovia board forces out CEO Ken Thompson

by AOL money & Finance
It seems to be a growing trend that Exectives are being cut in all kinds of companies. I like to see Companies cutting the fat in their exective branches rather than in the working force of their companies.