Bloomberg News

Nasdaq OMX Chief Executive Greifeld Signs Contract Extension

February 28, 2012

Nasdaq OMX Group Inc. (NDAQ) Chief Executive Officer Robert Greifeld, who oversaw a failed $11.3 billion bid for NYSE Euronext last year, signed a five-year employment extension with the New York-based exchange operator.

Greifeld will get a base salary of at least $1 million and additional compensation of twice that annually if he meets one or more performance goals each year, according to a regulatory filing. He can’t work for a competitor for two years after leaving the company, the filing said.

The deal follows Nasdaq OMX’s attempt with Atlanta-based IntercontinentalExchange Inc. (ICE) to purchase the owner of the New York Stock Exchange, which had agreed to a takeover by Deutsche Boerse Group AG in Frankfurt. Nasdaq and ICE withdrew their offer for NYSE Euronext (NYX) on May 16 after the Justice Department said it would block the deal because it would give the combined entity too much sway over corporate listings and other services. Antitrust regulators in Europe prevented the Deutsche Boerse transaction on Feb. 1.

Nasdaq OMX also extended General Counsel Edward S. Knight’s employment with a five-year contract. Knight, who is also the company’s chief regulatory officer, can’t work for or provide services to a competing exchange for 12 months after his departure, according to the filing. The employment terms went into effect for both men on Feb. 22, the filing said.

To contact the reporter on this story: Nina Mehta in New York at nmehta24@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus