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AMEX MEMBERSHIP ELECTS SIX NEW GOVERNORS TO EXCHANGE BOARD; THREE INCUMBENTS RETURNED FOR THREE-YEAR TERMS

 AMEX MEMBERSHIP ELECTS SIX NEW GOVERNORS TO EXCHANGE BOARD;
 THREE INCUMBENTS RETURNED FOR THREE-YEAR TERMS
 NEW YORK, April 15 /PRNewswire/ -- Three new public members and two new industry representatives yesterday were elected to three-year terms on the American Stock Exchange's board of governors at the membership's annual meeting.
 A third new industry member was elected to serve until 1994, and three incumbent governors were re-elected to three-year terms.
 New members from the public sector who will serve for three years until the 1995 elections are:
 -- Dr. Phillip Frost, chairman and chief executive officer of IVAX Corporation, an Amex-listed company.
 -- Bevis Longstreth, a partner in the New York law firm of Debevoise & Plimpton, and a former member of the Securities and Exchange Commission.
 -- Gertrude G. Michelson, senior vice president of R.H. Macy & Co., Inc.
 New members from the industry sector who will serve until the 1995 elections are:
 -- Anthony J. Boglioli, vice president of Kidder, Peabody & Co. Incorporated.
 -- Steven Kotler, president of Wertheim Schroder & Co. Incorporated.
 New industry member who will serve until 1994, filling an unexpired term:
 -- Marshall B. Wishnack, president and chief operating officer of Wheat, First Securities, Inc. of Richmond, Va.
 Paul A. Volcker, chairman of James D. Wolfensohn Incorporated and former chairman of the Federal Reserve Board, was re-elected as a public governor. Re-elected as securities industry governors were Jerome P. Kenney, executive vice president of Merrill Lynch & Co., Inc., and Biddle Worthington, Jr., president of B.W. Worthington Associates, Inc.
 Amex board members are limited to two consecutive three-year terms. The Exchange's board consists of 12 representatives from the public, 12 from the securities industry, with American Stock Exchange Chairman James R. Jones serving as the 25th member.
 Four new members of the eight-member nominating committee who will serve until the 1994 elections were elected by the membership. They are:
 -- Edward I. Herbst, chief operating officer and managing director of Cowen and Company.
 -- Larry A. Patrick, president and director of Larry Patrick Associates, Ltd.
 -- Howard P. Berkowitz, founder and managing partner of HPB Associates, L.P.
 -- Wendell M. Smith, chairman, president and chief executive officer of Baldwin Technology Company, Inc., an Amex-listed company.
 Richard S. Pechter, managing director of Donaldson, Lufkin & Jenrette Securities Corporation and chairman of Donaldson, Lufkin & Jenrette, Inc., Financial Services Group, was elected to serve for one year on the nominating committee, filling an unexpired term.
 Herbst, Patrick and Pechter represent the securities industry, and Berkowitz and Smith are public members of the nominating panel.
 Mark Levy, an independent regular member of the Exchange, and Gerald McCarten of Wedbush Morgan Securities Inc., were re-elected to serve as trustees of the Exchange's Gratuity Fund. Both will serve three-year terms.
 -0- 4/15/92
 /CONTACT: Bob Shabazian of the American Stock Exchange, 212-306-1630, or at home: 201-385-0746/ CO: American Stock Exchange ST: New York IN: FIN SU: PER


TS -- NY024 -- 8554 04/15/92 09:46 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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