Just a few weeks from now, IntercontinentalExchange (NYSE: ICE ) is expected to complete its acquisition of NYSE Euronext (NYSE: NYX ) . But while ICE may gain control over the Big Board, it won't get NYSE's CFO.
On Monday, home-security specialist ADT (NYSE: ADT ) announced that it has hired away NYSE Chief Financial Officer Michael Geltzeiler to become its own new CFO. Geltzeiler, who before his five-year stint at NYSE served as president for school and educational services at the Reader's Digest Association, will now report directly to ADT Chief Executive Officer Naren Gursahaney.
Explaining his decision to join ADT, Geltzeiler noted that "ADT is a widely respected company and a clear leader in the industry," with "significant potential to grow" and "a strong balance sheet, a broad portfolio of innovative solutions and a talented management team."
Profitable, and expected by many analysts to grow its earnings in the high single digits over the next five years, ADT stock has underperformed the market over the last 52 weeks. The stock rallied 1.7% in Monday trading, however, following the announcement of Geltzeiler's hire.