Ex-President Quits Shearson

Jeffrey B. Lane, recently removed as president and chief operating officer of Shearson Lehman Hutton Inc., has resigned from the securities firm, the company acknowledged today.

The departure of the 47-year-old Lane, effective Dec. 29, caps a major shake-up at the company that has included the reshuffling of management and a $900-million recapitalization plan.

Lane, who had been Shearson’s No. 2 executive running the day-to-day operations of the firm, was chief operating officer since 1984 and added the title of president in 1987 until the reshuffling in late November.