Interim
This morning, The New York Times reports that John Thain, president of
At an SEC meeting in Washington Wednesday, Donaldson said the move should put the NYSE "in a better position to protect against the concentration of too much executive authority in one individual." The meeting was expected to render a plan that would reform the Big Board, including forcing more independence on the exchanges board of directors.
One of the other proposals was the creation of an independent regulatory board for the NYSE.
Donaldson was congratulatory to Reed on the work he has done since taking over as interim head of the post-Grasso Big Board. He said the new reforms would help advance the NYSE even more.
"The proposed changes to the NYSE constitution represent a significant step forward in meaningful reform of the NYSE's governance structure and the transparency of its governance processes," Donaldson said.
