The new directors take office immediately and may serve three two-year terms on the board, which consists of 12 directors representing the public, 12 representatives of the securities industry and two NYSE officers.
The new directors representing the public are Peter N. Larson, chairman and chief executive officer of Brunswick Corporation and Juergen E. Schrempp, chairman of the Board of Management of DaimlerChrysler.
Messrs. Larson and Schrempp replace Clifton R. Wharton, Jr., former chairman and CEO, TIAA/CREF and Lord Marshall, chairman, British Airways Plc. Dr. Wharton and Lord Marshall have served three consecutive terms on the board, the maximum number of consecutive terms permitted under the NYSE Constitution.
The new securities industry representative is Joe L. Roby, president and chief executive officer of Donaldson, Lufkin & Jenrette, Inc.
Mr. Roby replaces Deryck C. Maughan, vice chairman, Citigroup, and one of two NYSE vice chairmen. Mr. Maughan has served three consecutive terms. Four current public directors were re-elected: Stephen M. Case, chairman and CEO of America Online, Inc.; Maurice R. Greenberg, chairman and CEO of American International Group, Inc.; Gerald M. Levin, chairman and CEO of Time Warner Inc. and Alex Trotman, former chairman of the board, president and CEO of Ford Motor Company.
Five current securities industry directors were re-elected: James M. Duryea, an independent floor broker and president of J.M. Duryea, Inc.; Richard S. Fuld, Jr., chairman and CEO, Lehman Brothers Holdings Inc.; Kenneth G. Langone, chairman of the board of Invemed Associates LLC; Robert M. Murphy, president and CEO of Robb Peck McCooey Specialist Corporation and William B. Summers, Jr., chairman and CEO of McDonald Investments Inc., a KeyCorp Company.
Charles J. Bocklet, Jr. managing member, Bocklet and Co., L.L.C. was re-elected as vice chairman of the board. David H. Komansky, chairman and CEO of Merrill Lynch & Co., Inc. was elected vice chairman of the board, replacing Mr. Maughan.
