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Article: Home Savings' president quits over tactical rift with CEO.(Home Savings of America President Fredric J. Forster)
- Article from:
- American Banker
- Article date:
- April 10, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Home Savings Bank's high-profile effort to convert itself from a stodgy mortgage factory to a fleet-footed consumer bank has claimed its first executive victim.
The nation's largest thrift, a unit of Irwindale, Calif.-based H.F. Ahmanson & Co., said Tuesday that its No. 2 executive, Fredric J. Forster, was leaving because of differences over tactics with chief executive Charles R. Rinehart, who is spearheading the consumer banking drive.
In a prepared statement, Mr. Rinehart said, "The company currently faces the challenge of executing many new strategies."
He added, "Fred and I felt that without complete alignment, our energy and attention could be ...