Hiring Dick Fuld Is 'Risky'

Richard Fuld

Former Lehman Brothers CEO Richard Fuld is working as a consultant with green chemistry company GlyEco, and the firm felt obliged to point out to shareholders in a filing that the relationship might result in 'negative publicity'.

The Wall Street Journal reports that the filing said:

'We have engaged Mr. Richard S. Fuld, Jr. as a consultant which might attract negative publicity as a result of his employment with Lehman Brothers. Mr. Fuld has been affiliated for the greater part of his career with Lehman Brothers, including serving as the Chief Executive Officer and Chairman of the Board of Directors when Lehman Brothers sought bankruptcy protection in 2008. If Mr. Fuld suffers adverse publicity in connection with his prior association with Lehman Brothers, such events may reduce the effectiveness of Mr. Fuld’s endorsement of our Company and, in turn, adversely affect our revenue and results of operations'.

Fuld Disclosure (subscriber content)

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts