Lanty Smith – Interim Wachovia CEO

by Heather

Lanty Smith has been named as Wachovia’s (WB) Interim CEO after Chief Executive Kennedy Thompson was deposed from his position.

Recently deposed Wachovia CEO, Ken Thompson.

Lanty Smith said that the search for a new Chief Executive Officer is on and that the company didn’t need to raise cash. He said that Wachovia was “absolutely not” in crisis and that it needed new leadership to revitalize their core business.

This announcement is on the heels of revising a $708 million dollar loss for the first quarter of 2008 and raising $7 billion dollars of new capital.

Wachovia (WB) is currently trading between $22.00 – $23.00 a share.