CHAIRMAN QUITS STOCK EXCHANGE IN FUROR OVER PAY

Article Abstract:

The anticipated resignation of New York Stock Exchange (NYSE) chairman Richard A. Grasso developed yesterday as the board voted to accepted his volumtary departure. Despite Grasso's remarkable success, after starting at the Exchange as a clerk in 1968, his extravagant compensation package upset various industry leaders who felt his objectivity could be compromised. The NYSE board still faces new issues that now shed unwelcomed light on its operations and governance.

Legal issues & crime, Company legal issue, Cases, Investigations, Stock-exchange, Stock exchanges, New York Stock Exchange Inc., United States. Securities and Exchange Commission, Grasso, Richard, Donaldson, William H.

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Succession Stirring New Discord at Morgan

Article Abstract:

Philip J. Purcell's decision to step down as CEO of Morgan Stanley did not end corporate infighting as many had hoped because the search for his replacement has led to opposing factions backing different candidates.

Financial management, Management dynamics, Personnel administration, Security brokers and dealers, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Management, Influence, Recruiting, Securities industry, Chief executive officers, Investor relations, Company business management, MWD, Industry hiring, Morgan Stanley, Purcell, Philip J., Cruz, Zoe, Crawford, Stephen S., Newhouse, Stephan F.

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