Tuesday, June 17, 2008

Haldeman, Denying Allegations, Steps Down as Putnam CEO

Two days after Dartmouth’s Association of Alumni results were announced, Dartmouth’s Board Chair Ed Haldeman told reporters in a June 12th teleconference that he will be stepping down as Putnam Investment’s CEO. Putnam Investments is a mutual funds firm based in Boston. During the media teleconference, Haldeman “insisted that the move has nothing to do with an allegation, put forward recently by a Putnam whistleblower, that Haldeman had known about the market-timing activity that had occurred years ago.” Readers of The Dartmouth Review may recall our coverage of this sordid affair some months ago.

Market-timing at Putnam, which constitutes fraud, occurred as late as 2003. Haldeman joined Putnam in the fall of 2002 as the head of investments. In the wake of Putnam’s market-timing scandal, which made headlines in 2003, Haldeman replaced then-CEO Larry Lasser as the company’s CEO in November, 2003.

Those who know the former CEO suggest that Haldeman will land on his feet after this stumble; we at The Dartmouth Review offer former-CEO Haldeman our best wishes.

33 comments:

Anonymous said...

haldeman as the new president of dartmouth?

Anonymous said...

where do I cast my vote?

Anonymous said...

As usual, you only report the portion of the story that serves your narrow self-defeating (witness the AA voting landslide)interests. Haldeman's new position is Chairman of Putnam Investment Management LLC, a rather considerable responsibility. You are to be congratulated for giving him your "best wishes", but criticized for calling it a "stumble", which it clearly is not. I hope that you gain something from your Dartmouth education, but it's not yet apparent.

Anonymous said...

No mention of the fact that he will stay on as Chairman? Do I detect a bias?

CEO for 6 years, and through the transition to a new parent company, and then asked to stay on as Chairman for a few years? Huge stumble, clearly.

Tough to work a 40 year career and end up as chairman of the fortune 500 you helped lift out of tough times.

Anonymous said...

Haldeman stepped down. Noted. Thanks.

I hope that everyone will resist the urge to use the comments section to vent whatever's on their mind that has any relation to the composition of the Board of Trustees... though I doubt that will happen.

Truth Be Told said...

Oh, please!!!

"Haldeman will become chairman of Putnam Investment Management LLC next month. His duties include senior client coverage, handling third-party relationships, and helping with recruiting."

...And tidying up around the office after the big boys have finished work.

Anyone who can't read between the lines to see that Ed was canned is either willfully ignoring the facts or just plain clueless.

The only thing missing from this heaveho is Ed saying that he wants to spend more time with his family and on charitable endeavors.

George W. Potts said...

Sorry, I can't resist. Does not one action presage the other? Green is the color of money and mascots. How have we sunk so low? (I am not anonymous.) Sigh ...

Truth Be Told said...

Mr. Potts, you wrote:

"Does not one action presage the other?"

Do you mean Haldeman ceasing to be CEO so that he can become chairman of Putnam, or so that he can become President of Dartmouth...?

Anonymous said...

Who was the previous "Chairman of Whatever" at Putnam Investments?

Anonymous said...

I'm pretty sure the former "chairman of whatever" doesn't exist. Word is that the position was made on the spot for Haldeman, and that it was a demotion on top of that.

Anonymous said...

Being Chairman is typically a role with real meaning, different than the CEO's. People who are "demoted up" are usually titled Vice Chairman with nebulous "strategic" responsibilities. Hard to have a Vice C. in an enterprise without a C.

Anonymous said...

First Spitzer, now Haldeman. Beware of the most sanctimonious among us!

Anonymous said...

To equate Ed Haldeman with Spitzer is sort of like comparing Abraham Lincoln with Josef Stalin. Shame on you!

Anonymous said...

No one's equating. It's called an analogy.

Anonymous said...

...like Dartmouth is analogous to a democratic republic.

Anonymous said...

Right, except that that analogy is flawed.

patriot said...

In 2009 Haldeman will become the first President of Dartmouth University, the nation's newest b-side research institution.

Anonymous said...

Haldeman will never become president, of any college or university. There are enough faculty, and enough business-type alums, on the search committee to ensure the McLaughlin 'mistake' will not recur.

McLaughlin was a 'mistake', not because of his ability to run a major institution, but because he had no academic credentials. It is hard to find individuals who have both skill sets; but, that is what is required to run a major university. Dartmouth has done much to develop its own academics into institutional leaders, who often then go on to lead other institutions, but not Dartmouth. I see Jim Wright and John Kemeny as exceptions -- although it's unarguable that they have led Dartmouth for much of the last forty years, which calls my use of the word 'exception' into question.

So, while Carol Folt is a viable candidate in this presidential search cycle, I see it as much more likely that a Marye Anne Fox (Dartmouth PhD in Chemistry, and presently Chancellor of UC-San Diego, with strong credentials at NC State and UT-Austin) would be tapped long before.

Anonymous said...

In 2009 Haldeman will become the first President of Dartmouth University, the nation's newest b-side research institution.

Will the b-side have vocals from T-Pain? Because that guy's annoying, but he shows up everywhere.

Anonymous said...

Its going to be a lively fall. A fall from grace.

Anonymous said...

A Lively Fall (From Grace) [special guest: T-Pain]

Anonymous said...

no, it's definitely

Livin' the Fall (from G.R.A.C.E.) [feat. T-Pain, DJ Khaled, and Lil Wayne]

Anonymous said...

Marye Anne Fox, Chancellor of UC San Diego, received her B.S. from Notre Dame. A Ph.D. from Dartmouth is a pretty tenuous link, don't you think?

Anonymous said...

A new world will be brought about by a hero, the one man who sees the modern world as it is. Fate will force him to go on a journey where he will retreat from the sick society and die to his self only to be reborn in spirit. Then he will receive a revelation that will bring man back into accordance with Nature’s God. He will return to society with his message to recreate the world anew, and the old, corrupt world will be destroyed. I am not Scannell.

MB said...

To celebrate our regained alumni unity, Vitamin-Water will be served at all presidential search committee meetings. Cheers!

Anonymous said...

This original post is seriously one of the most childish, sore-loser posts I've ever read--and I actually sided with the losers in this election, so that says a lot. Have some class.

Anonymous said...

The Haldeman/Lincoln analogy might just fly if Haldeman ponies up some more PR dough to contract a sculpture of his ethical self in a Lincolnesque pose. Ed’s great at posing.

Anonymous 10:44 said...

And I am not Scannell.

Anonymous said...

Haldeman likened to Abraham Lincoln? Keep drinking the kool- aid kids, its good for ya!

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