Knight Board of Directors Finalizes New Four-Year Contract Through 2012 With Chairman and CEO Thomas M. Joyce
December 24 2008 - 10:26AM
PR Newswire (US)
JERSEY CITY, N.J., Dec. 24 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (NASDAQ:NITE) today announced that the Board of
Directors finalized a new four-year employment contract for
Chairman and Chief Executive Officer, Thomas M. Joyce. The new
contract begins December 31, 2008 and runs through to December 31,
2012. The terms of the contract will be described in a Form 8-K to
be filed with the Securities and Exchange Commission. "The
outstanding results in Global Markets under Tom's tenure underscore
the extent to which he has reengineered Knight and positioned it to
prosper in Wall Street's new landscape," said a Knight spokeswoman
on behalf of Knight's Board of Directors. "We are particularly
pleased that a significant portion of Tom's compensation will be
linked to Knight's success. We believe that there should be a
strong relationship between pay and corporate performance. Knight
and its shareholders should benefit from Tom's continued leadership
as the company builds on the momentum reflected in its strong
financial results heading into 2009." "I look forward to the
opportunity to continue to lead our growth initiatives over the
next four years," said Mr. Joyce. "I'm proud that my new contract
tightly links pay to performance, which we believe as a company is
the appropriate way a CEO and other senior executives should be
compensated." Mr. Joyce joined Knight as CEO in May 2002 and added
the responsibilities of Chairman in January 2005. About Knight
Knight Capital Group, Inc. (NASDAQ:NITE) is a leading capital
markets firm that provides electronic and voice access to the
global capital markets across multiple asset classes for buy-side,
sell-side and corporate clients. In Global Markets, we provide
market access and trade execution services in nearly every U.S.
equity security and a large number of international securities,
fixed income, foreign exchange, futures and options. In Asset
Management, Knight owns a 51 percent stake in Deephaven Holdings
with Deephaven Partners controlling the remaining 49 percent as of
February 1, 2008. Deephaven (http://www.deephavenfunds.com/) is a
global, multi-strategy alternative investment manager serving
institutions and private clients. More information about Knight can
be found at http://www.knight.com/. Certain statements contained
herein, may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not historical facts and are
based on current expectations, estimates and projections about the
Company's industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict
including, without limitation, risks associated with the costs,
integration, performance and operation of businesses recently
acquired, or that may be acquired in the future, by the Company,
and risks associated with the unprecedented current market
conditions and the resulting volatility, credit tightening and
counterparty risk, as well as the negative effect on performance
and assets under management in our Asset Management business and
the suspension of redemptions and withdrawals announced in the Form
8-K filed by the Company on October 30, 2008. Since such statements
involve risks and uncertainties, the actual results and performance
of the Company may turn out to be materially different from the
results expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, the Company also disclaims any obligation to
update its view of any such risks or uncertainties or to announce
publicly the result of any revisions to the forward-looking
statements made herein. Readers should carefully review the risks
and uncertainties disclosed in the Company's reports with the U.S.
Securities and Exchange Commission (SEC), including, without
limitation, those detailed under the headings "Certain Factors
Affecting Results of Operations" and "Risk Factors" in the
Company's Annual Report on Form 10-K for the year-ended December
31, 2007 and Quarterly Report on Form 10-Q for the three months
ended September 30, 2008, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
This information should also be read in conjunction with the
Company's Consolidated Financial Statements and the Notes thereto
contained in the Company's Annual Report on Form 10-K for the
year-ended December 31, 2007, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret Wyrwas,
Senior Managing Director, Communications, Marketing,
+1-201-557-6954, or Jonathan Mairs, Vice President, Corporate
Communications & Investor Relations, +1-201-356-1529, Web Site:
http://www.knight.com/
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