NEW YORK: The Nasdaq stock market has made two major appointments
in its communications staff.
Nasdaq has announced that Bethany Sherman will replace Andrew MacMillan
as the market's SVP of corporate communications, though it wouldn't
confirm reports that Paul Warburg, formerly VP of IR at 24/7 Media, had
been installed as IR head.
Sherman was tapped from New York agency Middleberg Euro RSCG to lead
Nasdaq's worldwide PR and corporate communications efforts, including
media relations and employee communications.
An industry source said the hire of an IR head was likely due to the
market's plan, announced on April 26, 2001, to go public sometime this
year. The source also said the Nasdaq needed to make "an increased
effort to bring accuracy to the equation. In 1998 and 1999, Nasdaq
stocks, in general, had a huge run-up. Nasdaq got caught up in the
success of those companies, which soon disappeared. And that's why they
need to get back to the basics of accurately portraying Nasdaq."