Nasdaq Returns Börje Ekholm to Board on Nov. 1, Assigns Him to Audit and Risk Committee
Key Facts
Nasdaq announced on Oct. 26, 2026, that Börje Ekholm had been appointed to its board of directors, with the appointment taking effect on Nov. 1, according to a company statement. Ekholm will join the board’s Audit and Risk Committee. The decision returns a former Nasdaq board chair to the board after his tenure as Ericsson’s chief executive through September 2026. Chief Executive Officer Adena Friedman said Ekholm brings "rare strategic vision and operational discipline," citing his successful transformation of Ericsson into a stronger, more competitive company. The statement gave no additional objective for the appointment beyond Friedman’s description of Ekholm’s deep company knowledge, global technology experience and track record in innovation and growth.
Nasdaq’s statement describes him as the former president and chief executive of both Ericsson and Investor AB, and notes that he previously chaired Nasdaq’s board. Ekholm served as Ericsson’s president and chief executive from January 2017 to September 2026. During that period, he led the company’s transformation into a global leader in 5G and telecommunications technologies, according to Nasdaq’s statement. Ericsson announced in June 2026 that he would step down on Sept. 30 and serve as an executive adviser to the new chief executive through June 15, 2027. Börje Narvinger became Ericsson’s president and chief executive on Oct. 1, 2026, succeeding Ekholm.
Ekholm said in Nasdaq’s statement that he looked forward to working with board members and management to support the company’s role as a transformation partner in the industry. His appointment coincides with another board departure: Holden Spacht notified the company of his decision to resign from the board, effective Dec. 31, 2026. Spacht joined the board in November 2023, following Nasdaq’s acquisition of Adenza. That leaves two months between Ekholm’s appointment taking effect and Spacht’s resignation. The statement does not say Ekholm’s appointment is linked to Spacht’s resignation, but reports both decisions and their timing together.
In the latest trading data provided, Nasdaq shares, trading under the ticker NDAQ, closed at $102.56 on Oct. 23, 2026. The stock closed at $93.2 on Oct. 19, then reached $94.8 on Oct. 20 and $96.12 on Oct. 21. It closed at $103.3 on Oct. 22 before ending the Oct. 23 session at $102.56. These are daily closing prices for Oct. 19 to Oct. 23 and do not include intraday trading ranges. The available trading data do not link the share price movement to the announcement of Ekholm’s appointment, which was issued on Oct. 26.
In a separate economic development, the Chicago Fed National Activity Index registered 0.07 points in September 2026, compared with -0.08 points in August, according to Federal Reserve Bank of St. Louis data. The comparison reflects a shift from a negative reading in August to a positive one in September. The source cited in the data did not report a comparison with market expectations. The index’s next reading is scheduled for release on Nov. 23, 2026. The Nasdaq board change takes effect in two stages: Ekholm’s appointment begins on Nov. 1, followed by Spacht’s resignation on Dec. 31.
Nasdaq’s quarterly results provide background on the company whose board Ekholm is rejoining. Solutions revenue was $1.172 billion in the third quarter of 2026, up 17% year over year and 18% organically. Annual recurring revenue reached $3.365 billion, with reported growth of 12% and organic growth of 14% compared with the same period a year earlier. Financial technology services revenue was $529 million, up 16% year over year, while market services revenue was $309 million, up 2%. Friedman said quarterly results showed business momentum, pointing to record net inflows into index products and record growth in financial technology annual recurring revenue.
In its index business, Nasdaq reported revenue of $286 million in the third quarter of 2026, up 39% year over year. Net inflows into index products exceeded $141 billion in the 12 months ended in the quarter, including $49 billion in the third quarter alone. The company said quarterly net inflows into indexes reached a record. For shareholder returns over the same period, Nasdaq returned $173 million through dividends and $323 million through share repurchases. These figures place the performance and flows of the company’s business units in the context of Ekholm’s return to its board, without the statement attributing the results to his appointment.