A wave of senior officers, including the company's president, chief operating officer, and an executive vice president, departed the company in early 2001, and Schrader left his CEO job on April 30. In the internal email sent to staff announcing his departure he likened the company's situation to a building in a lightning storm and, referring to his decision to resign as CEO, said "I am that lightning rod". The company's stock price plunged in response to the departures and to wider-than-expected losses: the stock, which had traded as high as $60.94 a share in 2000 (after a split), closed at 18 cents in late March 2001.