Following completion of a merger between markets operators NYSE Euronext and IntercontinentalExchange, NYSE executive Stephane Biehler will take on the role of CFO for investment research firm Morningstar (NASDAQ:MORN), the company said today in a statement. Biehler is currently corporate controller and chief accounting officer with NYSE Euronext, a position he's held since 2006.
Morningstar said in an SEC filing that Biehler will receive an annual base salary of $350,000 and is eligible to receive an annual bonus targeted at $350,000.
NYSE Euronext announced last week that its merger with IntercontinentalExchange is scheduled to close on Nov. 4. Biehler will then assume his responsibilities as Morningstar CFO.
Prior to joining NYSE Euronext, Biehler was corporate controller with Archipelago Holdings for two years, and assisted in orchestrating the merger between Archipelago and the New York Stock Exchange, Morningstar said. He also played a role in Archipelago's IPO 10 years ago.
Biehler will replace exiting CFO Scott Cooley, who has opted to take what Morningstar said was "a leave of absence for a year to pursue a graduate degree." Cooley will then return to Morningstar in a research role, the company said.
Morningstar Chairman and CEO Joe Mansueto said of Biehler's appointment: "His experience at the NYSE and Archipelago, and with global technology and financial services firms, was particularly attractive to us. We look forward to having Stéphane on our team."
Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool recommends Morningstar and NYSE Euronext. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.