NYSE Assessed a $4.5 Million Penalty; Ford Names New CEO
The Dow Jones and S&P 500 ended the day barely down, while Nasdaq ended the day up due to momentum from Netflix (NFLX) and other tech stocks. The Securities and Exchange Commission charged the NYSE along with two other affiliated exchanges for "failure to comply with the responsibilities" regarding securities laws. The NYSE and the affiliated exchanges agreed to pay a $4.5 million penalty. Two new CEOs were named today. After many months of speculation, Ford (F) announced today that current COO, Mark Fields, will replace Alan Mulally as CEO of the automobile company on July 1.Yum (YUM) brands also announced that Greg Creed, the current CEO of Taco Bell, will take over the position of CEO on January 1 as current CEO, David Novak, will become executive chairman.
Word on the Street
Published on May 1, 2014By InvestorGuide Staff