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Article Excerpt
BEDFORD, Mass. -- Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services to financial institutions, active traders and individual investors, today announced Raymond L. D'Arcy, 56, has succeeded Stuart J. Clark as president and chief executive officer. Clark, 61, will serve as an advisor to the Company before retiring later this summer as previously announced.
This appointment was previously announced as part of the Company's formal CEO succession process. This process began in May 2008 when Clark announced his intention to retire in 2009 and was further advanced in November 2008 when the Board selected D'Arcy to be the Company's next leader. In conjunction with this transition, Clark has stepped down from serving as a member of the Board of Directors, and D'Arcy has been appointed to fill this vacancy, effective immediately.
Rona Fairhead, chairman of Interactive Data's Board of Directors, remarked, "The transition between Ray and Stuart has progressed smoothly, which has allowed us to bring the succession process to completion. I have tremendous confidence in Ray and the Interactive Data team as we collectively work toward expanding our business globally and creating value for all key stakeholders....
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