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Henry ‘Dr. Doom’ Kaufman Resigns From Lehman Brothers Board

Henry Kaufman & Co. President Henry Kaufman
Henry Kaufman & Co. President Henry Kaufman at a meeting of the Economic Club of New York. Photographer: Daniel Barry/Bloomberg

Henry Kaufman resigned from the board of Lehman Brothers Holdings Inc., according to a company filing with the Securities and Exchange Commission. The resignation didn’t result from any “disagreement” with the company, according to the filing.

Kaufman, who was vice chairman of Salomon Inc. in the 1980s, was nicknamed Dr. Doom for his forecasts as an economist. Known as a Wall Street guru, he made almost $2 million when he exercised Lehman stock options after the firm reported record fiscal net income in 2007.

Lehman filed the biggest bankruptcy in U.S. history in September 2008 and has said it will spend five years selling assets to pay creditors as little as 14.7 cents on the dollar.

The cases are In re Lehman Brothers Holdings Inc., 08-13555, and James W. Giddens v. Barclays Capital Inc., 09-01732, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

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