LPL Financial nominates former Xerox CEO to board

LPL Financial nominates former Xerox Chairman and CEO Anne Mulcahy to its board

Associated Press

BOSTON (AP) -- LPL Financial, an independent stock broker and a subsidiary of LPL Financial Holdings Inc., said Monday that it nominated former Xerox Corp. Chairman and CEO Anne Mulcahy to its board.

The nomination is subject to approval by shareholders at the company's annual meeting in May. Mulcahy will also serve on the board's audit committee. She would take the 10th seat on an expanded LPL board which currently has nine members.

Mulcahy served as Xerox's CEO from 2001 to 2009 and as chairman of the company from 2002 to 2010. She is currently a board director of Johnson & Johnson, Target Corp. and The Washington Post Co.

In midday trading, shares of LPL Financial Holdings fell 26 cents to $32.41. Its shares have traded in a 52-week range of $23.17 to $38.94.

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