US - Securities and Exchange Commission (SEC) chairman William H. Donaldson has announced he will step down from the post on June 30.
He was appointed by George W. Bush in 2003 and is the US federal agency’s 27th chairman.
Commenting on his tenure, Donaldson said the period could well be remembered as the “most consequential and productive” period in the commission’s history. “When I assumed the chairmanship of the Securities and Exchange Commission roughly two and one-half years ago, public confidence was severely undermined, reflecting the corporate and financial scandals that had shaken the nation,” he said in a statement.
“Thanks to the dedicated efforts of the many professionals who serve at the SEC, this period has represented an extraordinarily active and effective time for the agency. It may well be remembered as the most consequential and productive period in the commission’s history since its founding in 1934.”
He added: “I have been honoured to serve as chairman. Although there will always be more work to be done to preserve and enhance the integrity and strength of our nation’s corporations and markets, I believe the time has come for me to step down and return to the private sector and my family.”
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