Lehman Brothers Holdings Inc., which is struggling to improve its sagging share price, has rehired Shaun Butler, its former longtime head of investor relations, The Wall Street Journal reports.
Butler returned to work Monday after leaving the Wall Street firm five months ago. She says she traveled with her family following her resignation earlier this year and decided to return to Lehman after stopping by the broker’s offices to talk to Lehman Chairman and Chief Executive Richard Fuld Jr., who has been searching for ways to turn around Lehman’s fortunes.
Butler announced plans to retire in 2007 and officially left Lehman at the beginning of February, when the company’s shares were trading above $60. The stock closed Monday at $12.40, down $2.03, or 14%, in 4 p.m. New York Stock Exchange composite trading.
Butler had run investor relations at Lehman since the firm went public in 1994. She was succeeded in February by Ed Grieb, who becomes chief financial officer of Lehman’s investment management unit.