This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

E*TRADE To Name Rodger A. Lawson Chairman Of The Board Of Directors

E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that its Board of Directors intends to appoint Rodger A. Lawson as Chairman to replace Frank J. Petrilli immediately following the 2013 Annual Meeting of Stockholders, subject to the re-election of Mr. Lawson at the Annual Meeting. Mr. Petrilli, who has served as Chairman since January 2012 and also as Interim CEO of the Company from August 2012 through January 2013, advised the Board that he does not wish to stand for re-election. Mr. Petrilli will remain a director until the Annual Meeting of Stockholders, scheduled for May 9, 2013.

Mr. Lawson, who was appointed to the E*TRADE Board of Directors in February 2012, brings over 30 years of experience in the financial services industry, having most recently served as President of Fidelity Investments. Mr. Lawson also served as Lead Independent Director from August 2012 to January 2013, during which time Mr. Petrilli was Chairman and Interim CEO of the Company.

“I am grateful to accept this role, and look forward to continuing to serve the Company and its stockholders in this new capacity,” Mr. Lawson commented. “I am particularly encouraged about the direction of E*TRADE under CEO Paul Idzik, and feel the Company is on the right path to creating long-term value for its stockholders.”

“E*TRADE is a fantastic franchise, and I have been honored to serve as Chairman and Interim CEO during such a pivotal time in the Company’s history,” said Mr. Petrilli. “My decision to not stand for re-election was a difficult one, but reflects my other business and time commitments. I believe that Paul Idzik is well equipped to lead E*TRADE forward and that Rodger Lawson will make an excellent Chairman. I look forward to watching all of E*TRADE’s success as an investor and customer.”

Ronald D. Fisher, who has been a member of E*TRADE’s Board since October 2000, has also notified the Board that he will not stand for re-election, due to his expanded responsibilities as President of SoftBank Holdings, Inc. Mr. Fisher will also remain a director until the Annual Meeting of Stockholders.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs