The Vice-Chairman of Nasdaq, Inc. Meyer “Sandy” Frucher will be stepping down from his role, and will instead take on the position of Strategic Advisor, effective from January 1, 2020, the exchange operator announced this Monday.
Frucher has held the position of Vice Chairman at Nasdaq for 11 years. Since 2008 he has been in charge of global exchange relationships in addition to advising the exchange’s senior management team on a range of issues.
Prior to his current position, Frucher was Chairman and CEO of The Philadelphia Stock Exchange (PHLX) from 1998 to 2008. When the company was acquired by Nasdaq in 2008, he was appointed to the position of Vice-Chairman.
Adena Friedman, the President and CEO of Nasdaq, said: “Sandy has played an essential role in Nasdaq’s evolution as a major market operator into becoming a world renowned technology company.”
“Through his steadfast commitment over the years, we have truly expanded our relationships and partners across six continents and, in particular, significantly grown our Market Technology business revenues and market infrastructure operator client base.
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“I’m pleased that he will continue in his new role in working with Nasdaq and look forward to our future relationship ahead.”
Meyer “Sandy” Frucher’s career
During his career, Frucher has gained experience in a number of fields, ranging from business, government, and labor relations, according to the statement released by Nasdaq.
Prior to being the CEO of PHLX, he was a management consultant to major organizations. This includes World Financial Properties Inc., formerly Olympia and York. While employed with the company, he was the Executive Vice President of Development from 1996 until 1998.
“When I joined Nasdaq as Vice Chairman when PHLX was acquired over 11 years ago, the company was known as a major exchange operator with a significant US focus,” said Sandy Frucher, Vice Chairman, Nasdaq.
“Since then, Nasdaq has transformed into a technology powerhouse that not only builds marketplaces around the world, but also important relationships as well. It’s been a sincere honor of mine to personally be involved in this transformation by helping to expand the company’s footprint globally, and build long-lasting relationships for the betterment, not only of Nasdaq, but of our exchange industry.”