WALL STREET: Shift at the Big Board

Through the mid-1960s, the job of heading the New York Stock Exchange was prosaic and long lasting. G. Keith Funston ran the Big Board for 16 years, from 1951 to 1967. But as reforms began eroding the "private club" nature of the largest and most important U.S. securities market, the boss's job has turned into a shaky one. Robert W. Haack, now chairman of Lockheed Aircraft Corp., was squeezed out after five years. Last week the climate of change proved too much for another Big Board chief. James J. Needham, chairman since 1972, resigned...

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