The New York Stock Exchange (NYSE) Euronext board of directors announced last week that it has appointed Duncan L. Niederauer CEO, effective 1 December, 2007, to fill the position vacated by John A. Thain, who has accepted the role of chairman and CEO of Merrill Lynch.
"In Niederauer, we move forward with an individual who has contributed to our global business strategy and has knowledge and experience in securities trading and the evolving exchange landscape,: says Jan-Michiel Hessels, chairman, NYSE Euronext. "On behalf of the NYSE Euronext board of directors, I look forward to working with Niederauer on producing value for our customers and shareholders and building upon the growth and success realised in recent years," he adds.
"My colleagues on the board and I wish John Thain well in his new role at Merrill Lynch,: continues Hessels. "Thain has led NYSE Euronext with skill and a commitment to growth, innovation and value creation. Thain's accomplishments will continue to serve our company and our constituents very well in the years to come,: he comments.
The appointment of Niederauer is subject to the non-objection of European regulators, says the firm. Following confirmation, Niederauer will become a member of the NYSE Euronext board of directors.
"I am excited about this opportunity," says Niederauer. "NYSE Euronext is positioned to build upon our role in financial services on a global scale and to produce value for customers and shareholders. We have a well-defined business strategy in place, and I look forward to continuing to work with our global team and our customers in the years ahead,: he adds.
Thain led the transformation of the NYSE into a customer-oriented, publicly traded, and diversified global financial marketplace with the mergers of Archipelago Holdings and Euronext.
"It has been an honour and privilege to have led this financial marketplace and to have been part of an exciting business transformation,: comments Mr. Thain, who joined the NYSE as CEO on 15 January, 2004. "With the commitment of the management team and staff, we modernised and diversified our business model for the benefit of our customers and shareholders. NYSE Euronext is a more customer-focused organisation and has a well-defined strategy for the future,: he continues.
"It has been a privilege to work with Thain," says Jean-Fran?ois Th?odore, deputy CEO, NYSE Euronext. "I very much look forward to working with Niederauer, whose market and business knowledge will enable us to continue the development and implementation of our global strategy,: he remarks.