Richard Fuld hit the headlines when he sold a $14 million Florida house to his wife for $100. Many see this as a move to protect the house from future legal action against him.
Fuld joined Lehman Brothers in 1969 after giving up his career as an air force pilot. He turned around the fortunes of the company after he took over but soon risky mortgages backfired.
He ignored warnings from experts on several issues. He refused to talk to buyers and finally the company had to declare bankruptcy. Fuld earned about $45 million in 2007.
From the years 1993 to 2007, he is said to have received nearly half a billion dollars in total compensation. CNN named Fuld as one of the 'Ten Most Wanted: Culprits of the Collapse'.
Image: An woman who said she is a Lehman Brothers Holdings Inc employee writes a message on a portrait of Lehman Brothers Chief Executive Dick Fuld in New York September 15, 2008. Lehman Brothers Holdings Inc filed for bankruptcy. | Photograph: Joshua Lott/Reuters
Also read: How companies make good decisions
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