Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Palo Alto, Calif.’s Wilson Sonsini Goodrich & Rosati chairman Larry Sonsini scored another notch in his power belt, landing a new spot as a director of the world’s largest stock market. The New York Stock Exchange board of directors elected Sonsini last week as one of five new members to its 26-member governing body. Sonsini, whose two-year term begins immediately, is filling one of 12 seats reserved for representatives of the public. The board also consists of 12 seats for securities industry professionals and two for NYSE officials. Each member may serve up to three consecutive terms. Sonsini said he is honored by the post and hopes to represent the interests of the technology industry to the Big Board, as the NYSE is known. “My interest is in really being the voice of technology and representing the technology sector worldwide at the Big Board,” Sonsini said. He said he hopes to serve on the board’s committee that emphasizes the quality of the markets, saying the efficiency of the NYSE is a driver for all companies. Sonsini may have his work cut out for him. Most tech companies are too small to be traded on the NYSE and stage an initial public offering on the competing Nasdaq instead. Before the mid-1990s, technology companies would trade on Nasdaq until they could qualify for the Big Board. In recent years, many tech companies like Sun Microsystems Inc. have chosen to remain on Nasdaq. Over the past year, however, that’s been changing. In that time, some high-profile tech companies like E-Trade Group Inc., Global Crossing Ltd. and Sybase Inc. have made the jump to Big Board trading. With Sonsini, the NYSE gets a fast track to the most influential securities law firm in Silicon Valley. Wilson Sonsini has taken public more tech companies in recent years than any other law firm, though most of those offerings were on the Nasdaq. New members elected to the board alongside Sonsini were Jean-Marie Messier, chairman and CEO of Vivendi Universal, William Harrison Jr., president and CEO of J.P. Morgan Chase & Co., both of whom also sit in seats reserved for the public. From the securities industry, the new directors are Michael Carpenter, chairman and CEO of Salomon Smith Barney Holdings Inc. and Christopher Quick, CEO of Fleet Meehan Specialist Inc. Sonsini also will be rubbing shoulders with the likes of Leon Panetta, former President Clinton’s chief of staff who is now director of the Leon and Sylvia Panetta Institute for Public Policy at California State University-Monterey Bay.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.