Summary
This Form 8-K filing from The NASDAQ OMX Group, Inc. (NDAQ) reports a significant executive leadership change. Adena T. Friedman is resigning from her roles as Chief Financial Officer (CFO) and Executive Vice President, Corporate Strategy, effective March 4, 2011. This departure represents a loss of key financial and strategic leadership for the company. In response to Ms. Friedman's resignation, Ronald Hassen, currently Senior Vice President, Controller, and Principal Accounting Officer, will assume the interim role of CFO. Mr. Hassen has extensive experience within NASDAQ OMX and its predecessor companies, holding various financial leadership positions since 1989. The company has stated that information related to compensatory arrangements for the interim CFO is not yet determined and will be filed in an amendment.
Key Highlights
- 1Adena T. Friedman resigns as CFO and Executive Vice President, Corporate Strategy, effective March 4, 2011.
- 2Ronald Hassen appointed as interim CFO.
- 3Mr. Hassen brings significant financial experience, having served as Senior Vice President and Controller since 2002.
- 4The filing incorporates by reference a press release detailing the executive changes.
- 5Information regarding compensatory arrangements for the interim CFO is pending and will be filed later.
- 6This filing is primarily an executive transition announcement.