Nasdaq finance chief Lee Shavel to retire in March 2016 and a search for a replacement is on

Hayley Kirton
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Lee Shavel joined the company in 2011 (Source: Getty)

Nasdaq's finance chief and executive vice president of corporate strategy has today revealed he will retire on at the end of March.

Lee Shavel has been with Nasdaq since 2011, when he joined from Bank of America Merrill Lynch.

"We have been fortunate to have someone with Lee's talent and skills working for us," said Bob Greifeld, chief executive of Nasdaq.

"He has been instrumental in framing our capital allocation strategy and in helping investors understand the value of our company. We thank him for his valuable service to our organisation and wish him well in the future."

Shavel, who also revealed that he had accepted a position on the board of a public company, added: "Having accomplished much during my time here, I leave knowing that the company is in a strong financial position. I am excited to pursue the next chapter of my career which will apply my experience at the corporate board level."

The company has not yet named a permanent successor for Shavel. Ron Hassen, senior vice president and corporate controller at Nasdaq, will cover the role in the interim, having been with the company himself for nearly 15 years.

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