NEW YORK - H. Furlong "Baldy" Baldwin, the former chairman of Baltimore's Mercantile Bankshares Corp., will soon become Nasdaq's first non-executive chairman.
Starting May 12, Mr. Baldwin will serve as a liaison between the 20-member board of Nasdaq Stock Market Inc. and its new chief executive, Robert Greifeld. Mr. Baldwin and Mr. Greifeld will succeed Hardwick "Wick" Simmons, who is retiring, having held both roles since 2000.
Mr. Baldwin said that, with the current emphasis on corporate governance, Nasdaq decided to separate these roles.
Mr. Baldwin, 71, was the chief executive officer of Mercantile from 1976 to 2001, and retired as the $10.8 billion-asset company's chairman and director on March 1. For the last three years he has been on the Nasdaq board, which he also serves as the chairman of the management compensation committee.
