The Change Mariner: NYSE Board On Hot Seat

September 19, 2003

NYSE Board On Hot Seat

The embattled board of the New York Stock Exchange convened a meeting on Friday afternoon as it struggles to name a new leader and decide how it should be run after the departure of Richard Grasso.
The thorniest issue for the board is how to address concerns that conflicts of interest exist in a system where the conduct of the exchange and the pay of its top executives are influenced by the members the exchange regulates.

Friday's meeting comes two days after Grasso was forced to resign following a firestorm of criticism over his $140 million compensation package that the board approved.

Posted by Timothy Fredel at September 19, 2003 3:15 PM
Related Categories: Area - Social - Ethics | Quadrant - Social

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