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May 30, 2000
Andy MacMillan
(202) 728-8340


NASD Members Elect Seven Governors to Board

Washington, DC – The National Association of Securities Dealers, Inc. (NASD®), today conducted its Annual Meeting for the membership to vote on the election of seven candidates to serve on the NASD Board of Governors. The NASD Board consists of 33 Governors, including members of the general public, the securities industry, and from outside the industry. Each year the terms of from seven to twelve Governors expire, and the NASD members vote to elect new Governors. The terms of the newly elected Governors begin today. This year’s Governors—with the group they represent and their terms of office—elected by the vote of the members are:

 

William C. Alsover, Chairman
Centennial Securities Company, Inc.
(Industry 2000-2003)
Brian T. Borders, President Association of Publicly Traded Companies
(Public 2000-2003)
Robert R. Glauber, Adjunct Lecturer
Center of Business and Government
Kennedy School, Harvard University
(Public 2000-2003)
Kenneth D. Pasternak
President and Chief Executive Officer
Knight/Trimark Group, Inc.
(Industry 2000-2001)
David S. Pottruck
Co-Chief Executive Officer
The Charles Schwab Corporation (Industry 2000-2003)
Sharon Smith, Dean
College of Business Administration Fordham University
(Public 2000-2003)
Arvid Sodhani,
Vice President, Treasurer
Intel Corporation
(Non-Industry 2000-2003)

In commenting on the election of the Board of Governors, NASD Chairman and CEO Frank G. Zarb said, "I welcome the assistance of such a distinguished group as we move forward in these historic times. Our Board has a unique governance structure that assures representation to diverse industry, non-industry, and public members. This diversity helps ensure we consider various points of view as we chart a course through the revolutionary changes we see in the securities industry today."

 

Presently serving on the NASD Board of Governors with terms expiring in 2001 are: Frank E. Baxter, Chairman and Chief Executive Officer, Jefferies Group, Inc. (Industry); Michael W. Brown, Retired Chief Financial Officer, Microsoft Corporation (Non-Industry); Nicholas C. Cochran, Vice President, American Investors Company (Industry); Harry P. Kamen, Retired Chairman and Chief Executive Officer, Metropolitan Life Insurance Company (Non-Industry);

 

Donald B. Marron, Chairman and Chief Executive Officer, PaineWebber Group, Inc. (Industry); Paul H. O’Neill, Chairman, Alcoa Inc. (Public); James S. Riepe, Vice Chairman, T. Rowe Price Associates, Inc. (Non-Industry); Todd A. Robinson, Chairman and Chief Executive Officer, LPL Financial Services (Industry); and Howard Schultz, Chairman and Chief Executive Officer, Starbucks Coffee Company (Non-Industry).

 

Present governors whose terms expire in 2002 are: M. LaRae Bakerink, First Vice President and Chief Compliance Officer, Pacific American Securities, LLC (Industry); H. Furlong Baldwin, Chairman, Mercantile Bankshares Corporation (Non-Industry); Elaine L. Chao, Distinguished Fellow, The Heritage Foundation (Public); Alan L. Davidson, President, Zeus Securities, Inc. (Industry); Kenneth M. Duberstein, Chairman and Chief Executive Officer, The Duberstein Group, Inc. (Public); Eugene M. Isenberg, Chairman and Chief Executive Officer, Nabors, Inc. (Non-Industry); Donald J. Kirk, Executive-in-Residence, Columbia University of Graduate School of Business (Public); John D. Markese, President, American Association of Individual Investors (Public); Arthur Rock, Principal, Arthur Rock & Co. (Non-Industry); Richard C. Romano, President, Romano Brothers & Co. (Industry); and James F. Rothenberg, President, Capital Research and Management Company (Non-Industry).

 

NASD staff Board members include: Frank G. Zarb, Chairman and CEO, NASD, Inc.; Richard G. Ketchum, President, NASD, Inc.; Alfred R. Berkeley, III, President, The Nasdaq Stock Market, Inc.; Salvatore F. Sodano, Chairman and CEO, The American Stock Exchange, LLC; Anthony J. Boglioli, Vice Chairman, The American Stock Exchange, LLC; and Mary L. Schapiro, President, NASD Regulation, Inc.

The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market®, The American Stock Exchange®, and NASD Regulation, Inc. For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq.com; www.amex.com; or the Nasdaq NewsroomSM at www.nasdaqnews.com.