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Two Replacing Retiring NYSE Pres.

October 4, 2001

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NEW YORK (AP) _ The New York Stock Exchange picked two top executives Thursday to replace retiring president and chief operating officer William Johnston.

Catherine Kinney and Robert Britz will share the responsibilities of vice chairman, chief operating officer and president.

Johnston retires in January but will remain an adviser. The reorganization does not affect NYSE chairman and chief executive Richard Grasso.

Kinney, now an executive vice president overseeing competitive issues and client relations, will be the highest-ranking woman in NYSE history when the transition is effective. Britz is also an executive vice president, with responsibilities are in technology and operations.

Also Thursday, Grasso told reporters that the NYSE is re-examining its emergency plans after the Sept. 11 terrorist attacks on the World Trade Center. The exchange was not damaged, but trading was halted for four days because of devastation to the surrounding financial district.

Grasso also said the exchange’s plans to build a new facility in the financial district haven’t changed, but he is waiting to make sure the space isn’t needed by businesses whose offices were destroyed by the attacks.

The exchange isn’t looking to relocate outside of New York, he said.


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