OptionsXpress shuffles senior management team

Source: optionsXpress

OptionsXpress Holdings, (Nasdaq-GS:OXPS) today announced promotions within the Company's management team.

After delivering industry-leading growth and profitability over the last seven years, the Company believes the new management structure will position it best for continued market leadership. All of the changes are effective immediately.

David Fisher has been promoted to President. Fisher has served as the Company's Chief Financial Officer since August 2004. In that time, he has been a significant contributor to all of the company's major initiatives including the IPO, the conversion to self-clearing and the acquisition of XpressTrade, LLC. Building on this experience, as President, Fisher will assume the responsibilities of overseeing much of the Company's day-to-day operations and driving long-term, sustained growth.

The Company has also promoted Adam DeWitt to fill the role of Chief Financial Officer from Vice President of Finance, where he managed financial reporting, budgeting, investor relations and corporate development. DeWitt came to optionsXpress two years ago after spending several years in a similar role at JPMorgan Chase, where he was central in integrating budgeting and financial reporting as well as tracking synergies following the merger with Bank One. In his new role, DeWitt will also be responsible for accounting, treasury, and other finance and administrative functions.

Additionally, the Company is pleased to announce that Ned Bennett, one of the original founders of optionsXpress, will transition from Chief Operating Officer to Executive Vice-Chairman. In his new position, Bennett will continue to play a significant role in setting the strategic direction of the Company while remaining Chief Executive Officer of optionsXpress, Inc., the broker-dealer of optionsXpress Holdings, Inc.

David Kalt, Chief Executive Officer of optionsXpress Holdings commented, "We are excited about these changes to our executive team. David has already made an extraordinary contribution to our success, well beyond his financial role, and this promotion will allow him to drive optionsXpress forward in an even more meaningful way. Together, we believe these changes are part of our evolution as a company, which will help us continue to deliver strong results for our shareholders."

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