Hen in the foxhouse

15 March 2007 By David Vise

How’s this for irony? Former Congressman Michael Oxley as in Sarbanes Oxley will join Nasdaq as a vice chairman. The man whose eponymous law is widely, if unfairly, held responsible for driving listings overseas is now incentivised to bring them back.

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The Nasdaq Stock Market named former Rep. Michael Oxley to the newlycreated job of nonexecutive vice chairman. He will oversee the electronic exchange's relations with current and potential listed companies and provide guidance on public policy matters.

The Ohio Republican, who served in Congress for more than two decades, coauthored the SarbanesOxley law, which contained major corporate reforms, following revelations of fraud at Enron and Worldcom.

In a statement, Nasdaq President Robert Greifeld said, "Mike represents good governance which translates into good business acumen."

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