Michael P. Regan, Columnist

CIT Shares' Road to Nowhere

Not a lot of turning around in a stock price for a U-turn CEO.

March 3, 2016 at 1:41 PM UTC

Michael P. Regan is the global team leader for cryptocurrencies at Bloomberg as well as a former senior markets editor and former Americas team leader for Bloomberg's Markets Live blog. He has covered Wall Street for Bloomberg News as a columnist and editor since 2007. He previously worked for the Associated Press.

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

One of the most famous survivors of the financial crisis is retiring this month after his third stint as a "turnaround CEO."

What's debatable is whether John Thain's last project, CIT Group, has been successfully turned around. The company's shares peaked more than two years ago and last month traded at their lowest price since the company emerged from bankruptcy protection in 2009. They've rebounded 20 percent since then, but they still remain more than 40 percent below the 2014 high and trade pretty close to where they were when he took over six years ago.