Source: NYSE Euronext
NYSE Euronext today announced the appointment of Mssrs. Jacques De Larosière de Champfeu, Aarnout A. Loudon and John Shepard Reed as directors of the Stichting NYSE Euronext (the Dutch Foundation) and of Mssrs. Charles K. Gifford, John Shepard Reed and Jacques De Larosière de Champfeu as trustees of NYSE Group Trust I (the U.S. Trust), subject to the completion of all regulatory approvals, including the approval of the Euronext College of Regulators.
The Dutch Foundation and the U.S. Trust, established as part of the creation of NYSE Euronext, will be charged with remedying certain significant and unforeseen effects in the application of U.S. or European regulation and legislation, respectively, outside national borders on issuers and financial service providers or procedures on markets operated by NYSE Euronext subsidiaries. Decisions of the Dutch foundation and US trust will be taken by a majority vote of the directors or trustees, respectively.
Directors' terms of office are set at three years for the first three mandates and one year for each subsequent renewal. Mandates may be renewed indefinitely.
Jacques De Larosière de Champfeu is the Chairman of the Strategic Committee of the French Treasury and Advisor to BNP Paribas. He is a member of the board of France Telecom, a position he has held since 1998, and of the AIG International Advisory Board. Mr. De Larosière became president of the London-based European Bank for Reconstruction and Development in September 1993; he left this position in 1998. Prior to his EBRD service, Mr. De Larosière was Managing Director of the International Monetary Fund (IMF) from June 17, 1978 to January 15, 1987, and Governor of the Banque de France from 1987 to 1993. Jaques De Larosière is a graduate of the Institut d'Etudes Politiques de Paris, and École Nationale d'Administration.
Aarnout A. Loudon was appointed a non-executive Director of Royal Dutch Shell in October 2004. He was a member of the Royal Dutch supervisory board from 1997 and was a board member of Royal Dutch until the merger of the company on December 21, 2005. He was a member of the Board of Management of Akzo from 1977 to 1994 (Akzo Nobel as from 1994) and its Chairman from 1982 to 1994. He is former Chairman of the supervisory boards of ABN AMRO Holding N.V. and Akzo Nobel N.V., a member of the International Advisory Board of Allianz AG, a member of the European Advisory Board of Lehman Brothers Europe Ltd and advisor to Cinven Ltd.
John Shepard Reed served as Chairman and CEO of Citicorp, Citibank, and post-merger, Citigroup. He was born in Chicago, Illinois, and raised in Argentina and Brazil. Mr. Reed led Citicorp through a perilous period in the early 1990s and oversaw its merger with Travelers Group. Mr. Reed served as interim Chairman and CEO of the New York Stock Exchange where he oversaw the restructuring of the corporate governance of the Exchange. Mr. Reed serves on the Board of Directors of Altria Group and is a member of the Corporation of MIT. He earned his undergraduate degrees from Washington and Jefferson College and MIT and his Master's Degree in Management from the MIT Sloan School of Management. He is Chairman and a Trustee of the Center for Advanced Study in the Behavioral Sciences, a Trustee of MDRC and a Fellow of the American Academy of Arts and Sciences and of the American Philosophical Society.
Charles K. Gifford is Chairman Emeritus of Bank of America, where he continues to serve on the Board of Directors. He served as Chairman of Bank of America from April 1, 2004 until his retirement on January 31, 2005. Prior to that, Mr. Gifford was the Chief Executive Officer and Chairman of FleetBoston. Mr. Gifford is a director of CBS Corporation and NSTAR Corporation. He is the chairman of the Boston Plan for Excellence in the Public Schools. He also serves on the boards of several nonprofit organizations, including The Massachusetts General Hospital, Boston Symphony Orchestra, WGBH Public Broadcasting, Junior Achievement, Room To Grow, the Dana Farber Cancer Institute, Dana Farber/Partners Cancer Care, The Boston Red Sox Foundation and the Greater Boston Chamber of Commerce.