Jerry A. Grundhofer has joined Lehman Brothers’board of directors, after being elected to the board at the Annual Meeting of Stockholders held on 15 April.
Grundhofer, 63, is the chairman emeritus and retired CEO of US Bancorp, where he served as chairman of the board from December 2002 until December 2007. He served as CEO of the company from February 2001 until December 2006. He also served as president of the company from February 2001 until October 2004.
From 1993 until February 2001, Grundhofer served as chairman, president and CEO of US Bancorp predecessors Firstar Corporation and Star Banc Corporation.
“We are delighted to welcome Jerry to Lehman Brothers board of directors. Jerrys tremendous leadership, management experience and acute insights into our industry will greatly benefit the firm,” says Richard S. Fuld, Jr., chairman and CEO, Lehman Brothers.
“I am excited to serve on Lehman Brothers board. Lehman Brothers ability to navigate through challenging markets with consistently strong performance speaks volumes to its diversification across products and geographies, strong leadership, and unwavering commitment to risk management,” adds Grundhofer.