New York Stock Exchange president and chief operating officer William Johnston is to retire at the age of 62, effective 2 January, 2002. He will be succeeded by Catherine Kinney and Robert Britz, who are currently group executive vice presidents.
Johnston will remain with the company as senior adviser to Dick Grasso, chairman and chief executive officer.
His successors, Britz and Kinney, will both have the title of co-chief operating officer, president and executive vice chairman and will become members of the board of directors.
Britz has been group executive vice president and a member of the office of the chairman since June 1995. As head of the equities group, he is responsible for the operation of the Nyse market, technology, information products and real estate and facilities.
Catherine Kinney has also been group executive vice president and a member of the office of the chairman since June 1995. She oversees the Exchange's competitive position and relationships with its listed companies, member firms and institutions including new listings and client service, equity marketing and sales, and fixed income. Prior to that, since 1986, she had been responsible for managing the trading-floor operations and technology.