NASD Appoints Six New Board Members

The National Assn. of Securities Dealers appointed six new board members, including senior executives from Merrill Lynch & Co., PaineWebber Group Inc., Aluminum Co. of America and Starbucks Coffee Co. NASD said 15 directors who leave as their terms expire will not be replaced as part of a restructuring of its board. In June, the NASD board approved a plan to shrink the number of board members to 27 from 48 in an effort to streamline decision-making. The six new board members--Merrill Lynch President Herbert M. Allison, Jefferies Group Inc. Chief Executive Frank E. Baxter, PaineWebber Group Chairman Donald B. Marron, Metropolitan Life Insurance Co. Chief Executive Harry P. Kamen, Alcoa Chairman Paul H. O’Neill and Starbucks Chief Executive Howard Schultz--will begin serving three-year terms in January.