The chief also told other board members that Zarb was trying to take over the company.
SEC, and Frank Zarb, boss of Nasdaq, are old friends who used to work together.
To make matters worse, the strategy launched by Mr Simmons's predecessor, Frank Zarb, has been unravelling.
"He has been getting ready for this all his life, " said Frank Zarb, chairman of the NASDAQ.
Giuliani joined Nasdaq Chairman Frank Zarb for the market's opening amid a continued Wall Street sell-off in the wake of last week's attacks.
He joined Nasdaq Chairman Frank Zarb for the market's opening amid a continued Wall Street sell-off in the wake of last week's attacks.
Regis in New York, and Greenberg barely acknowledged their presence, refusing to shake hands with Zarb and others he felt had turned on him.
Board members, including Greenberg's pals, Frank Zarb and Bernard Aidinoff, also worried about their own liability: Would they be held accountable in the post-Enron era?
When the time comes, as one day it must, perhaps he will accept some guidance from AIG director Frank Zarb , who today was named chairman of the board's executive committee.
Maybe Zarb should have a copy of that new AIG SunAmerica study prominently displayed in the boardroom, to remind Greenberg that retirement is not such a bad thing if one plans ahead.
Zarb, 67, retired as Nasdaq chief executive last year, so he is in a position to advise Greenberg on the benefits of slowing down and enjoying the fruits of a long career.
As I was returning to New York, I had been asked by Zarb to call in from time to time so that I could be told what, if any, conclusions were made by the Board.
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Yet Frank Zarb, Nasdaq's chairman, remains ebullient.
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Mr Zarb arrived in 1997 to clean up a trading scandal and departed four years later with a multi-million-dollar severance package dripping with perks and a reputation that causes his name to pop up every time a senior economic position in government becomes available.
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