Statement From SEC Chairman William H. Donaldson (on the Appointment of the NYSE Interim Chair)

FOR IMMEDIATE RELEASE
2003-121

On the Appointment of the NYSE Interim Chair

Washington, D.C., September 21, 2003 -- In response to the New York Stock Exchange Board's decision to name John Reed as interim Chairman, SEC Chairman William H. Donaldson said,

"I have known John Reed for many years and am pleased that the New York Stock Exchange Board has taken prompt action in reaching out to him. I am gratified that he is willing to take on this critical post. He is independent, experienced and has impeccable credentials all of which will be crucial as he works with the NYSE Board to ensure the highest standards of governance. The SEC, in its oversight role, will continue to work to help effect an improved governance structure at the New York Stock Exchange."

Last modified: 9/21/2003