Jeffrey Peek, CEO of CIT Group, has announced that he feels that he's "done all I can do" to ruin CIT and will step down at the end of the year. Peek added, "I am proud to say that I took the company stock from $60 bucks to .80 cents in just a few short years."
Peek was hired in 2003, and, by his own account, immediately set about untangling the successes that CIT had enjoyed as the nations leading small and mid-size business lender. Peek admits that he was better at ruining the business than even he had hoped. "At this point, my work is done. If you saw the movie Titanic, the captain stays on at the end but he's not driving the ship. I'm not doing anything anymore, I've set a course for utter failure and it's full steam ahead!" Peek went on to clarify that he simply doesn't see anything else he can do "save for stealing stuff from the copy room." Peek was asked if he realized that his responsibility was to make the company successful and profitable, to which he replied, "Any idiot can do that."
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