WaMu Director Resigns Under Pressure

Updated from 4:57 p.m. EDT

Washington Mutual(WB Quote) director Mary Pugh has resigned, the company said Tuesday at an annual shareholder meeting marked by investor anger over the company's alleged missteps in the housing and credit crises.

Nearly 2,500 investors and employees alike shared grievances about WaMu's poor performance and a seemingly disadvantageous capital injection led by private equity group TPG to shore up the struggling Seattle thrift. CEO Kerry Killinger announced Pugh's resignation early in the meeting.

Pugh, chairwoman of the bank's finance committee and a director since 1999, and fellow Director James Stever, chairman of WaMu's human resources committee, have come under fire from investors in light of losses the nation's largest thrift has taken as a result of the mortgage meltdown and housing decline. ...