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For the growing number of Kerry Killinger critics, the only question will be: What took them so long?
After watching the slo-mo destruction of Washington Mutual over the past year, its board has only now made the chief executive who presided over the disaster walk the plank.
The answer might provide little comfort. Yes, for part of that time Killinger had a board stuffed with allies.
Even after a $7 billion capital infusion from TPG in April, the board changed slowly
'We welcome Allan to the Board and look forward to his guidance and contributions as we continue our rapid growth, particularly in the Asian region,' Tim Jenks, CEO and Chairman of the Board.
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