Nasdaq CEO missed Facebook IPO debacle

Nasdaq CEO Robert Greifeld was completely unaware of the Facebook IPO debacle when the social network went public in May.

Facebook’s starting-day IPO problems were said to be accredited to Nasdaq’s late order cancellations, which slowed the start of share trading for Facebook.

At the time of the listing Greifeld was on a flight and unavailable.

The chief executive was in Silicon Valley for the opening, but after the initial thirty minute delay he assumed the problems were over and headed back to the East Coast on a five-hour flight.

Previously, Greifeld explained in an interview with The Wall Street Journal that the company was “humbly embarrassed” by the problems.

Despite the problematic start, Greifeld also previously stated that the delays had no effect on the price drop.

“It would lead a reasonable person to conclude that it didn’t have an impact on the stock price,” Greifeld said.

Source: Cnet

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Nasdaq CEO missed Facebook IPO debacle