Miami, FL, December 5, 2007 -- John Thain, CEO of Merrill Lynch, has pledged to revamp the bank's culture in response to insufficient management team cooperation that he believes could have contributed to the $8bn mortgage write down according to the Financial Times on December 3, 2007. "Thain's acknowledgment of culture and Management Dysfunction as a key contributor to poor business results is a courageous admission and other CEOs should be investigating it as well," said Matthew Levy, CEO of Results Management Group. "The impact on corporate culture of poor executive level collaboration may be the single most underestimated cause [...]