NYSE Euronext (NYSE: NYX) announced today that its Board accepted the resignation of Ricardo Salgado from the Company’s Board of Directors. Mr. Salgado tendered his resignation pursuant to NYSE Euronext bylaws after he did not receive a majority of votes cast for reelection at today’s annual meeting of NYSE Euronext shareholders.
“On behalf of our Board of Directors and the management team, it is with sincere regret that we accept Ricardo Salgado’s resignation,” said Jan-Michiel Hessels, Chairman of the NYSE Euronext Board of Directors. “Mr. Salgado has been involved with this Company in various capacities for 20 years, and his steady leadership, strategic counsel and guidance have made a significant contribution to our success. However, we completely understand the business priorities and his leadership role in the Portuguese financial community which require his full attention, and we wish him continued success.”
Mr. Salgado’s involvement with NYSE Euronext dates back to 1992, when he first served as a member of the NYSE European steering committee. He played a leading role in the decision of the Lisbon Stock Exchange to join Euronext in 2002, and subsequently in the merger of NYSE and Euronext in 2007, creating the leading global operator of financial markets.
Mr. Hessels stated further that Mr. Salgado would assist NYSE Euronext in a search for his replacement on the Board, and that the replacement would be from the Portuguese market.
“I would like to personally thank the members of the Board, the management team and our shareholders for their support,” said Mr. Salgado. “It has been a privilege and an honor to have contributed to NYSE Euronext’s emergence as a true leader on the global financial stage, and I remain convinced of the Company’s strong future as it transitions into the next phase of its successful growth and development.”
In accepting Mr. Salgado’s resignation, Mr. Hessels reiterated the Board’s appreciation for Mr. Salgado’s leadership and contribution to the Board and to the Company. As noted by Mr. Hessels at the annual meeting, Mr. Salgado, who serves as vice-chairman and president of the executive committee of Banco Espirito Santo, Portugal’s largest private bank, is heavily involved in the efforts to restore stability to the Portugal banking sector, including working with the government of Portugal, the European Commission, the European Central Bank, and International Monetary Fund on implementing the requirements imposed on Portugal and its banking sector.