Nasdaq CEO Bob Greifeld leaves post at short notice

  • Significant signs for push-out forces
  • After almost 14 years on the job
  • Laud, praise and thanks for Greifeld
  • Adena Friedman takes over
  • Greifeld will remain as Chairman of the Board at Nasdaq

(management-change.com) — New York, November 14, 2016 — Bob Greifeld, chief executive of Nasdaq, leaves the position. It is a change at short notice. As announced by Nasdaq, Inc. in a news release on Monday, November 14, 2016, Robert (Bob) Greifeld leaves the post as Chief Executive Officer at the financial services corporation after almost 14 years on the job, effective December 31, 2016.

It is the end of an era.

Greifeld’s duties are taken over by Adena Friedman, currently President and Chief Operating Officer at Nasdaq, Inc.

“Successful conclusion of a rigorous, multi-year succession planning process”

Greifeld’s imminent departure is explained as follows. Nasdaq Chairman Borje Ekholm said: “Naming Adena CEO represents the successful conclusion of a rigorous, multi-year succession planning process.”

Greifeld will remain as Chairman of the Board at Nasdaq

After nearly 14 years leading the company as CEO, Bob Greifeld will become Chairman of the Board.

Nasdaq Chairman Borje Ekholm will step down as Nasdaq’s Chairman on December 31, 2016, and will remain on the Board of Directors. On October 26, 2016, Ekholm was named President and CEO of Ericsson, a position he will start on January 16, 2017.

Investor AB holds 11.72 percent stake

Investor AB reported an 11.72 percent stake in Nasdaq, Inc. as of June 30, 2016. Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family.

On the job as CEO since 2003

Robert Greifeld has been Chief Executive Officer of Nasdaq, Inc. (formerly, NASDAQ Stock Market Inc.) since May 12, 2003.

Bob Greifeld assumed leadership of Nasdaq in 2003, when the company’s primary business was operating one equity market in the U.S.

Today, Nasdaq is a leading participant in the exchange and technology sector, delivering trading, listing, intelligence, and public company services across six continents.

During his tenure, Greifeld has led Nasdaq through a series of complex, innovative acquisitions that have extended the company’s footprint across the world, spanning all asset classes.

In 2008, he led the Exchange’s combination with Stockholm-based OMX AB, as well as acquisitions of the Philadelphia Stock Exchange, the Boston Stock Exchange and Nord Pool, Europe’s largest power market.

Nasdaq owns and operates 26 markets, one clearinghouse and five central securities depositories across the U.S. and Europe.

Its technology drives more than 70 marketplaces worldwide.

In January 2009, Nasdaq was named “Company of the Year” by Forbes magazine. Also in 2009, Nasdaq was ranked as one of the best performing companies in the U.S. as part of the BusinessWeek 50, and it was named to Fortune Magazine’s annual list of 100 Fastest Growing Companies.

Greifeld has been a strong advocate for modernizing exchanges and financial regulation to keep America’s capital markets competitive.

He has also called for CEOs to embrace sound, modern regulation as consistent with good business practices.

Greifeld has been outspoken on a number of issues, including long-term U.S. fiscal debt, corporate tax reform, and the nation’s outmoded immigration policy, citing each as harmful to U.S. innovation and business growth.

Prior to joining Nasdaq, Greifeld spent the early part of his career as a software entrepreneur and helped build new technologies and businesses as well as served in leadership positions for some of the world’s largest financial technology companies.

Greifeld holds a Masters in Business from New York University, Stern School of Business, and a B.A. in English from Iona College.

His graduate school thesis was on the operation of The Nasdaq Stock Market.

Greifeld is a member of the Business Roundtable and the Partnership for New York City, an organization devoted to enhancing the local economy.

He is Chairman of the USA Track & Field Foundation, which supports emerging athletes and inner city youth athletics.

Significant signs for push-out forces

It is not completely certain what forces eventually triggered Bob Greifeld’s move.

The Push-out Score™ determined by management-change.com suggests significant signs for push-out forces that may have contributed to the management change.

Read the full story in the management-change.com report 43.2016 ($).