NEW YORK (
will appoint an interim CEO next week to replace Jeff Peek, who is scheduled to step down from the post, according to a
report, which cited a company spokesman.
CIT, one of the nation's largest lenders to small and mid-sized companies, filed for bankruptcy late last year after the
Federal Deposit Insurance Corp.
refused to guarantee its short-term debt, as it had done for
and large banks like
Bank of America
After an unusually quick reorganization, CIT Group re-emerged as a publicly traded company on Dec. 10 and has rallied some 25% since then. The lender
, and there have been reports it may hire former
boss John Thain as a permanent replacement for Peek.
CIT's shares were down about 2% on light volumes Friday.
Written by Dan Freed in New York