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Back to all Intercontinental Exchange announcements

INTERACTIVE DATA INITIATES CEO SUCCESSION PROCESS BASED ON STUART CLARK’S INTENTION TO RETIRE AS PRESIDENT AND CEO DURING 2009

Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Board of Directors has initiated a CEO succession process after Stuart J. Clark informed the Board that he intends to retire as president and chief executive officer during 2009. Clark, 60, will retire after more than 40 years at Interactive Data or one of its predecessor companies, including the past 14 years as leader of the Interactive Data business. The announcement was made in advance of the Company’s Annual Meeting of Stockholders, which will be held later this morning in New York City.

The Nominating and Corporate Governance Committee of the Board will identify and screen potential successors. Clark’s current role as president and chief executive officer will remain unchanged through the succession process. Once his successor has been appointed by the Board, Clark plans to work closely with this executive to ensure an orderly, seamless transition of leadership before retiring.

Commenting on his intention to retire after four decades of work at Interactive Data and its predecessor companies, Clark stated, “As I approach my 40th anniversary at the Company and turn 61 later this year, I believe that it is an appropriate time for the Board to initiate a formal succession process. I have been very fortunate to enjoy such a wonderful and full career at Interactive Data, and to lead this Company since 1995. I am quite proud of all that we’ve achieved, especially since 2000 as Interactive Data has grown from a niche market data supplier into a tier-one player in the global financial information industry.”

Speaking for the Board, Rona Fairhead, who serves as chairman of both the Board of Directors, and the Nominating and Corporate Governance Committee, stated, “We are enormously privileged to have had Stuart as our CEO for over 13 years. He is a superb CEO who leads Interactive Data with integrity, vision, passion and unwavering dedication. Under his direction, Interactive Data has established itself as a widely respected leader in each of its core businesses and, in the process, has helped create a business of significant and enduring value. His many contributions include the assembly of a deep and talented executive team. The Board greatly appreciates Stuart’s professionalism in sharing his intention to retire with us as early as possible, which will allow us to undertake a rigorous succession process.”

Clark concluded, “My enthusiasm for Interactive Data’s prospects remains as strong as it’s ever been. Our value proposition is resonating with customers, and we see many exciting opportunities to expand our business worldwide. I will continue to direct my energies toward realizing these opportunities as I also work closely with Rona and the Board to provide for the continuity of leadership that will help guide Interactive Data into its next phase of growth.”

A leading global executive search firm has been engaged to advise the Company on the appointment of a new president and chief executive officer.