NEW YORK: Robert Zito, EVP of communications at the New York Stock Exchange, will resign before the arrival of Margaret Tutwiler on July 12, according to sources at the NYSE.
Tutwiler, undersecretary of state for public diplomacy and public affairs, was appointed the NYSE's EVP of communications and government relations on April 30. Zito was not consulted on her appointment, and it was not known at the time if he would resign to make room for Tutwiler.
Zito became EVP in February 2001, after serving as SVP of communications since 1994. He is credited with broadening the NYSE's brand through creative marketing that included making every trading day's opening bell an event attended by celebrities, business leaders and politicians.
But Zito's future at the NYSE had been in question ever since the man who promoted him resigned under a cloud. Former chairman and CEO Richard Grasso left the exchange in September over controversy surrounding his $197-million retirement package.
Tutwiler, who assumed her position with the Bush administration in December 2003, will continue her government role through June 30.