Knight Trading Group Chairman and Chief Executive Officer Kenneth D. Pasternak will retire from his Chairman and CEO positions as of January 31, 2002. He will serve out his remaining term as a Director, which expires at Knight's annual meeting in May 2002, and he will continue to act in a consulting capacity until his contract expiration on July 8, 2002. Mr. Pasternak plans to run for public office in New Jersey. The 47 year old Woodcliff Lake, NJ resident is considering making a run for the congressional seat held by Marge Roukema or the Senate seat held by Robert Torricelli.
Knight asset management subsidiary Deephaven Capital Management CEO and CIO Irvin R. Kessler will retire from his executive positions at the end of the year and depart Deephaven on March 31, 2002.
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