Thursday, August 9, 2012

Reuters: Hot Stocks: UPDATE 1-E*Trade replacing CEO, names chairman interim chief

Reuters: Hot Stocks
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UPDATE 1-E*Trade replacing CEO, names chairman interim chief
Aug 9th 2012, 14:17

Thu Aug 9, 2012 10:17am EDT

Aug 9 (Reuters) - E*Trade Financial Corp replaced its chief executive officer, Steven Freiberg, naming Frank Petrilli, the online brokerage's chairman, as interim CEO.

The firm said on Thursday that its board has formed a committee to find a permanent replacement for Freiberg, who joined E*Trade in April 2010.

Petrilli, 61, is a former CEO of TD Waterhouse.

Shares of New York-based E*Trade were up 6 percent at $8.50 in early Nasdaq trading.

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