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Bank One CFO resigns
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April 20, 2000: 11:24 a.m. ET
Financially troubled bank holding company to look for new financial officer
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NEW YORK (CNNfn) - Bank One Corp., beset by woes at its credit card division, announced Thursday that its chief financial officer resigned.
Chicago-based Bank One, the fourth-largest U.S. bank, said it began a search for a successor to Robert A. Rosholt, who has served as CFO since the 1998 merger of Banc One Corp. and First Chicago NBD Corp. His resignation goes into effect May 1.
The bank did not disclose the reason for the resignation, however, Rosholt, 50, said in a statement, "It has been a very rewarding 26 years at the corporation. It is the right time for a change for me and for the corporation."
Rosholt's resignation is the second executive change in a month. In March, James Dimon was appointed chairman and chief executive officer of the company.
Bank One (ONE: Research, Estimates) earlier this week reported a 40 percent drop in first-quarter net income, triggered in part by losses from its online bank, WingspanBank.com. A decline in credit card revenue helped reduce the bank's total non-interest income by 31 percent.
Shares of Bank One edged up 1/2 to 31-1/4 in morning trading Thursday. The stock has floundered amid the company's problems, and shares are well off their 52-week high of 63-9/16. 
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Bank One
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