Nasdaq (Nasdaq:NDAQ) has elevated Adena Friedman as its newest Chief Executive Officer less than a year after her promotion to the role of Chief Operating Officer. Her appointment will be tendered on January 1, 2017, according to a Nasdaq statement.
She will be succeeding longtime CEO, Bob Greifeld will become Chairman of the Board and relinquish his role to Ms. Friedman after nearly fourteen years. Furthermore, Nasdaq’s Chairman Borje Ekholm will step down on December 31, 2016, and will remain on the Board of Directors, thus facilitating the transition.
In her new role as the CEO of Nasdaq, Ms. Friedman will also be joining the group’s Board of Directors. Prior to the promotion, Ms. Friedman worked as Nasdaq’s COO, holding a number of responsibilities, including oversight of Nasdaq’s global business operations. She has also headed P&L responsibility in conjunction with day-to-day operational business decisions and budget allocation.
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In addition to this role, she has also worked as the group’s president since 2014. In this capacity she has been responsible for overseeing the strategy and operations as well as financial responsibility for the group’s Listing Services, Information Services (Indexes and Data Products) and Technology Solutions.
According to Borje Ekholm, the outgoing Chairman at Nasdaq, in a recent statement on the appointment: “Naming Adena CEO represents the successful conclusion of a rigorous, multi-year succession planning process. Adena is uniquely qualified for this role. For nearly two decades she has steadily risen through the leadership ranks, beginning as a Nasdaq intern.”
“During this time, she acquired deep expertise across a broad range of business and operational areas, as well as instituting a sharp focus on technology, all of which will drive the future of Nasdaq,” he added.
“Bob had the vision to reimagine Nasdaq as a financial technology company, and navigated the organization through a period of tremendous innovation and diversification. This resulted in delivering incredible client and shareholder value — increasing the company’s market capitalization from $600 million in 2003 to $11 billion today. His strong leadership provides an amazing trajectory for Nasdaq’s next chapter,” explained Ekholm in an accompanying statement on the CEO transition.