Shares of E*TRADE Financial Corp (NASDAQ:ETFC) ended Friday session in red amid volatile trading. The shares closed down -0.19 points or -0.67% at $28.13 with 273.69 million shares getting traded. Post opening the session at $28.00, the shares hit an intraday low of $27.89 and an intraday high of $28.41 and the price vacillated in this range throughout the day. The company has a market cap of $7.57 billion and the numbers of outstanding shares have been calculated to be 273.69 million shares.
E*TRADE Financial Corp (ETFC) on September 12, 2016 announced that it completed the acquisition of Aperture New Holdings, Inc., the ultimate parent company of OptionsHouse. The Company also announced changes to its executive leadership to better align the Company for growth, including the appointment of Rodger A. Lawson (previously serving as the Chairman of the Board) as Executive Chairman, Karl A. Roessner (previously serving as General Counsel) as Chief Executive Officer and Board member, and Michael J. Curcio (previously serving as CEO of Aperture) as Chief Brokerage Officer, as well as the departure of previous Chief Executive, Paul T. Idzik. Kevin T. Kabat has been appointed Lead Independent Director.
“With the OptionsHouse transaction drawn to a close, we have a significant opportunity to reconfigure the Company’s leadership to better focus on growing the business both organically and inorganically,” said Rodger Lawson, Executive Chairman of E*TRADE Financial. “While the E*TRADE Board applauds the foundational enhancements and significant regulatory progress made by the Company over the past three years, our core brokerage growth has come under pressure. Accordingly, we are restructuring the Company’s leadership, elevating Karl Roessner—a proven and embedded leader with deep company expertise—to Chief Executive Officer, and positioning Michael Curcio—an industry and E*TRADE veteran—as Chief Brokerage Officer, to lead our core business. Additionally, I am personally excited to serve the Company in its daily operations. The Board intensely weighed these leadership shifts and strongly believes we can best deliver on our renewed commitment to shareholders to grow the business through these timely actions. On behalf of our entire Board, I would also like to extend our gratitude to Mr. Idzik for his contributions, which have helped set the stage for the next phase of the Company’s evolution. We wish him the best in his future endeavors.”
“In my new role, I am excited to double down on our growth commitments,” said Karl Roessner, Chief Executive Officer of E*TRADE Financial. “And while we furthered that effort through the OptionsHouse acquisition, there is much more work to do to grow our core business. In welcoming my former colleague Michael Curcio back to E*TRADE, we are well-positioned to achieve this goal. Mike has a proven track record of promoting growth—not just for OptionsHouse, but for E*TRADE. Further, we are more than fortunate to have a financial services industry luminary helping guide our efforts, with Rodger Lawson as our Executive Chairman. I personally look forward to his wisdom and insight as we move forward. With leadership firmly installed, on a parallel track, we will continue pursuing capital deployment initiatives through balance sheet growth, share repurchases, and additional acquisitions, should we find attractive opportunities that offer value to the business and compelling returns for our shareholders.”
Shares of Washington Prime Group Inc (NYSE:WPG) ended Friday session in red amid volatile trading. The shares closed down -0.18 points or -1.46% at $11.83 with 185.35 million shares getting traded. Post opening the session at $11.93, the shares hit an intraday low of $11.54 and an intraday high of $11.95 and the price vacillated in this range throughout the day. The company has a market cap of $2.07 billion and the numbers of outstanding shares have been calculated to be 185.35 million shares.
Washington Prime Group Inc (WPG) on August 31, 2016 announced that its Board has appointed Sheryl von Blucher as a director of the Company effective immediately. Her appointment fills a vacancy on the Board created by the retirement of Marvin L. White at the conclusion of the Company’s annual meeting of shareholders held earlier.
Ms. von Blucher has over 30 years of experience and has led strategic and portfolio planning, operations and corporate finance and development for both domestic and international organizations. She currently serves as partner and managing director for JMJS Group, a private equity partnership. Prior to her tenure there, she led international analysis, strategy and corporate affairs for Heritage Amoco of British Petroleum (BP Amoco). Subsequent to BP Amoco, Ms. von Blucher served as senior vice president of planning and corporate development at Information Handling Services.
“We are fortunate to have Sheryl as an addition to our Board,” said Jacquelyn R. Soffer, Director. “Given her wide-ranging strategy and leadership experience, Sheryl will be an important contributor as an advocate for driving growth and shareholder value.”