The committee will also include Madeline K. Albright, principal, The Albright Group; Robert B. Fagenson, vice chairman, Van der Moolen Specialists USA, LLC; Mel Karmazin, president and CEO, Viacom Inc.; Gerald M. Levin, retired CEO, AOL Time Warner Inc.; John J. Mack, co-CEO, Credit Suisse Group and CEO, Credit Suisse First Boston; and Larry W. Sonsini, chairman, Wilson Sonsini Goodrich & Rosati. Robert G. Britz and Catherine R. Kinney, executive vice chairmen, presidents, and co-chief operating officers of the NYSE, will serve as ex officio members of the committee.
"This committee will define the role of the interim chairman and recommend an individual to fill that role," said H. Carl McCall, who presided over the meeting as the lead director.
In addition, the NYSE Board received a report from Mr. Britz and Mrs. Kinney on ongoing operations of the Exchange.
"The NYSE Board is pleased with the steps that Bob and Cathy have already taken to ensure the smooth operation of the Exchange," said Mr. McCall.
Mr. McCall presented a report on the floor members meeting that was held at the Exchange yesterday, and noted that seven NYSE Board members were in attendance at the meeting.
"Overall, it was a very constructive session," said Mr. McCall. "It is obvious that there needs to be more and better communication between the members of the Exchange and the NYSE Board, and we are committed to making that happen." Mr. McCall noted that there will be another members meeting at the Exchange on Wednesday, September 24th, which will again include members of the NYSE Board.
Mr. McCall also updated the NYSE Board on the status of the Special Committee on Governance of the NYSE, noting, "We are moving forward with our governance reforms and recommendations. To that end, we have scheduled meetings with various state treasurers and comptrollers, as well as the Council of Institutional Investors, to make sure their input is fully considered by the committee."
Mr. McCall reaffirmed that the Committee's recommendations will be presented to the NYSE Board at its October 2nd meeting.
