Little Jackson Hole, WY - Joe Ricketts has announced that he will retire from the TD Ameritrade board of directors to concentrate fully on entrepreneurship and philanthropy. Ricketts will step down from the board effective October 20, 2011.
Ricketts, who, with a few partners, founded the company that grew into present day TD Ameritrade, said, 'After more than 35 years working with talented teams to help TD Ameritrade grow into an exceptional company, the time is right for me to focus on new adventures. The company's current management has demonstrated wonderful ability, growing TD Ameritrade into a company that now has hundreds of billions of dollars in client assets and leads our competitors with hundreds of thousands of trades per day. This management team is my Dream Team, and not just because they are taking us to the 2012 London Olympics. I believe the company is well positioned to continue delivering a world class client experience while building value for shareholders'.
Ricketts, together with his wife and family, remains the largest individual shareholders of TD Ameritrade. Ricketts' son, Todd, will be designated to fill the board seat Ricketts had occupied, joining elder brother Peter as a director.
Ricketts currently operates several early-stage companies, including premium bison distributor Golden Bison, online neighborhood news source DNAinfo.com, feature movie company The American Film Company, and premiere fly fishing destination Jackson Fork Lodge.
Ricketts also established and directs the charitable foundation Opportunity Education and its sister charity, Opportunity Education College Fund. Additionally, he founded Ending Spending, a policy advocacy group focused on reducing excessive government spending.
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