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Stock Analyst Update

Bank One: Let the Resignations Begin

CFO's departure may be the first of many as new chairman settles in.

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It sure didn't take long for Jamie Dimon, the new chairman of struggling Bank One (ONE), to start stirring up the company's executive ranks. The bank announced Thursday that Chief Financial Officer Robert Rosholt was ending his 26-year career at the company on May 1.

Rosholt is probably the first of several top executives who will step down as Dimon starts to make radical changes aimed at jump-starting Bank One's earnings. Rosholt's departure seemed something of a given considering Dimon, former president of Citigroup (C), criticized some past Bank One accounting processes during the company's earnings conference call with analysts Tuesday.

Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.