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Gordon Stanley S. Macklin Edit Profile

businessman , chairman , director , President

Gordon Stanley Macklin, American former finance company executive. Member Delta Tau Delta.

Background

Macklin, Gordon Stanley was born on May 13, 1928 in Cleveland. Son of Gordon Stanley and Evelyn B. (Cosline) Macklin.

Education

He graduated with a BA in economics from Brown University in 1950, and returned to Cleveland to work for McDonald & Company Securities, where he later became a partner.

Career

He was the first President and CEO of the NASDAQ from 1971 to 1987. He was elected president of the National Association of Securities Dealers (NASD) in 1970, remaining in office until 1987. He was chairman of the National Clearing Corp from 1970 to 1975, and president of NASDAQ, the world's first electronic stock market, from 1975 to 1987.

He became chairman of investment bank Hambrecht & Quist, based in Boston, in 1987, and then chaired the venture capital firm White River Corporation from 1992 until it was sold to Harvard Private Group in 1998. He then joined the board of WorldCom as an independent director. Along with his fellow directors, he took little action to prevent the massive accountancy fraud which led to the company's bankruptcy in 2002, costing investors and employees billions of dollars.

In 2001, the board discussed accountancy concerns five times, but their compensation and share options eleven times. In 2005, he joined nine former WorldCom directors in paying back $18 million as compensation for investor losses, thought to be less than 20% of the personal net assets of the 10 directors. He joined the board of online retailer Overstock.com in 1999 and was also a director of the biotechnology companyMedImmune, and the White Mountains Insurance Group.

He was a director, trustee or managing general partner various companies in the Franklin Templeton group. He was also co-chairman of the Alexis de Tocqueville Institute. He died following a stroke, aged 78.

Achievements

  • Founder of the Nasdaq stock exchange and an architect of the modern system for electronic stock trading. Introduced the world to electronic stock trading in 1971 by cathode ray terminals that allowed several brokers across the country to buy and sell shares over the computer instead of manually over the counter, this system was called the National Association of Securities Dealers' Automated Quotation, or Nasdaq.

Religion

The Covenant is not a contract in which God and human beings agree to provide particular goods and services for each other. It is not something that people have to do to create a relationship with God. God has already made it possible.

Politics

Pacifists should be honored because they do not allow us to become complacent about war and violence.

Views

It is human responsibility to innovate, sponsor, and evaluate new forms of community living that will encourage development of the fullest potential in individuals.

Membership

Member Delta Tau Delta. Clubs: Burning Tree, Metropolitan, Congressional Country, George Town (Washington). University (New York City).

Pacific Union (San Francisco), Gulf Stream Golf Course (Florida).

Connections

Married Marilyn C. Michell, August 18, 1951. Children: Gordon Stanley III, Gary David, Nancy Jean, Lisa Annual.

father:
Gordon Stanley Macklin

mother:
Evelyn B. (Cosline) Macklin

spouse:
Marilyn C. Michell

children:
Gordon Stanley III Macklin

Gary David Macklin

Nancy Jean Macklin

Lisa Annual Macklin