Adena Friedman, CEO of Nasdaq, will become board chair in addition to her current role.

Nasdaq is pushing for more board diversity and has proposed requiring companies listed on its exchange to disclose the diversity credentials of their boards.

  By 2026, Nasdaq will also require companies to have one director who self-identifies as female and another as an underrepresented minority or LGBTQ+.

Corporate governance experts believe separating the chairman and CEO roles improves accountability and provides checks and balances in the boardroom

Others argue that splitting the roles can cause confusion over who is in charge.

Friedman will take on the new role on January 1, 2021.

During her time as CEO, Nasdaq has expanded beyond its traditional exchanges business into software and anti-financial crime technology.

 Other exchange operators, including Intercontinental Exchange, CME Group, and Cboe Global Markets, also have CEOs holding chairman titles.

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