LPL Financial falls after terminating CEO

LPL Financial Holdings

01/10/2024 21:52

** Shares of LPL Financial Holdings  LPLA.O  fall 5.1%
post-market to $218.12 after announcing termination of CEO Dan
Arnold, effective immediately, for violating its code of conduct
    ** Brokerage firm says external investigation found Arnold
"made statements to employees that violated LPL’s Code of
Conduct"
    ** Co appoints Rich Steinmeier, currently chief growth
officer, as interim CEO
    ** LPLA shares on Tues fell 1.2% to close at $229.85,
leaving them down ~21% from record intra-day high of $289.88 hit
in Jun

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))