E*TRADE Financial (ETFC) Cans CEO Freiberg, Names Pete Petrilli CEO on Interim Basis
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E*TRADE Financial Corporation (Nasdaq: ETFC) announced that its Board of Directors has appointed Frank J. Petrilli to serve as interim Chief Executive Officer, effective immediately. Mr. Petrilli’s appointment follows the departure of Steven J. Freiberg. In conjunction with today’s announcement, Rodger Lawson has been appointed as Lead Independent Director to serve as a representative for the non-management directors. Mr. Petrilli, who has served on E*TRADE’s Board since January 2012, will remain as Chairman.
The Board has formed a committee to oversee the process of searching for a permanent CEO, which will retain a leading executive search firm to assist in identifying qualified external candidates to fill the position. The selection committee will focus on candidates who have a strong understanding of the brokerage industry, a foundation in enterprise risk management, and a depth of experience that will allow them to immediately lead E*TRADE’s strategy and management team. The committee of the Board responsible for the executive search is composed of Frank Petrilli, Rodger Lawson, Kenneth Griffin, Donna Weaver and Stephen Willard.
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The Board has formed a committee to oversee the process of searching for a permanent CEO, which will retain a leading executive search firm to assist in identifying qualified external candidates to fill the position. The selection committee will focus on candidates who have a strong understanding of the brokerage industry, a foundation in enterprise risk management, and a depth of experience that will allow them to immediately lead E*TRADE’s strategy and management team. The committee of the Board responsible for the executive search is composed of Frank Petrilli, Rodger Lawson, Kenneth Griffin, Donna Weaver and Stephen Willard.
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