SAN FRANCISCO (Thomson Financial) - Wachovia Corp. late Thursday said that Thomas Wurtz plans to step down as chief financial officer after a successor is named.
The Charlotte, N.C.-based financial-services company said it will begin an immediate search for a replacement.
On Tuesday, Wachovia posted a second-quarter net loss of $8.66 billion, or $4.20 a share. The company also announced plans to cut its dividend and sell assets.
The company's shares closed the regular session on Thursday down 11.1% at $15.69. Katherine Hunt kh COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.