E*Trade names new CEO, plans reverse stock split

E*Trade Financial Corp (ETFC.O), an online broker emerging from painful mortgage lending problems, named former Citigroup Inc (C.N) executive Steven Freiberg as its new CEO and said it plans a reverse stock split.

Freiberg, 53, will take the reins from interim Chief Executive Robert Druskin on April 1, capping the search for a successor to former chief Donald Layton. E*Trade previously said Druskin, former Citigroup chief operating officer, was not a CEO candidate. [ID:nN17180980]

Analysts said the moves could stoke takeover speculation that has dogged E*Trade since the prospect of bankruptcy loomed early last year.

Read Full Article from Reuters

- Posted: 2010-03-22 11:02:44

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