Refco board resigns
Refco Inc. announced today that Stephen M. Brecher, CPA, CIRA and a member of the New York Bar, has been appointed to serve as an independent member of the company's board of directors.
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At the same time, Refco announced that all of its current directors resigned from the board, effective January 12, 2006. Mr. Brecher was appointed by the Board prior to the resignations.
The Company intends to appoint additional independent directors to the Board going forward.
Mr. Brecher is presently a Managing Director of Greenwich Corporate Strategy Group LLC. Prior to that he served as a Principal at XRoads Solutions Group, an international consulting firm. Mr. Brecher was with KPMG (and its predecessor Peat Marwick) from June 1967 to June 2000 where he was the partner-in-charge of the firm's International Bank Practice.