Merrill Lynch chief appeals for calm.

Financial News, August, 2003

Merrill Lynch's management shake-up continued Wednesday as chairman Stan O'Neal tried to bring an end to the speculation about who will be next out of the revolving doors in the executive suite. O'Neal has already ousted two leading executives who were pushing him to name a successor in the form of a company president.In a message to staff of the Wall Street giant, O'Neal said he would not appoint a president for at least five years to take the heat out of an issue that was beginning to dominate headlines. A spokesman said O'Neal, 'wants the firm to focus on business and clients and not succession'.

The latest management change came with the selection of corporate financier Russell Stein as treasurer - an appointment that must still be approved by the board....

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