Cayne mutiny: Bear boss is out
James Cayne will retain the role of chairman and will be replaced by Alan D. Schwartz, the company's president.
The Bear Stearns Cos. Inc. chief executive James "Jimmy" Cayne will become the third chief executive of a major financial services company to step down in recent months, according to published reports.
The company has been battered by troubles in the mortgage market, a fourth-quarter loss and colla
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