Nasdaq CEO named chair of exchange’s board of directors

Dec 19 (Reuters) – Nasdaq Inc (NDAQ.O) Chief Executive Adena Friedman will take on the additional role of chair of the board on Jan. 1, the company said late on Monday, executing a playbook similar to its peers but frowned upon by some corporate governance advocates.

During her five years as CEO, Nasdaq has diversified its revenue away from its traditional exchange business, into software and anti-financial crime technology, most recently through its $2.75 billion acquisition of fraud detection firm Verafin.

“Adena is incredibly deserving of this appointment. As Nasdaq’s CEO, she has successfully led the company in a new strategic direction,” said current Chair Michael Splinter, who will become lead independent director.

The move comes as Nasdaq is becoming a bigger player in the environmental, social and governance space, and as it champions board diversity. Last year, Nasdaq won regulatory approval for a…

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