AllianceBernstein Holding (AB - Get Report) fired their CEO Peter Kraus and all of the company's independent board members Friday, according to a regulatory filing. French parent company AXA (AXAHY) installed Kraus as CEO in 2008 after former CEO Lew Sanders abruptly retired.
AllianceBernstein shares were down 2.73% in afternoon trading Monday. The company's stock had risen 9.5% since Kraus was hired, ahead of AXA's 6.2% rise but below the S&P 500's 15% increase, according to Barron's.
AXA shares were down 0.35% to $26.52 per share in afternoon trading Monday.