Ambac elevates CEO as Canyon Capital takes aim at his pay

March 9, 2016 3:47 PM

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Ambac Financial Group Inc added to Chief Executive Officer Nader Tavakoli's responsibilities on Wednesday as a major shareholder attacked the company in part for his pay and performance.

The bond insurer said Tavakoli would assume the role of CEO of its operating company, Ambac Assurance Corp.

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