Robinhood's (NASDAQ: HOOD) Board of Directors appointed Susan Segal to the Board, effective March 21, 2024. Segal's appointment marks a strategic addition to the company's leadership team. In conjunction with her appointment, Segal will serve on the Nominating and Corporate Governance Committee as well as the Safety, Risk, and Regulatory Committee, aligning her expertise with crucial aspects of Robinhood's operations.
Board Expansion: Robinhood's Total Directors Increase to Nine
Segal joins Robinhood as an independent Director, with her initial term set to expire at the company's 2024 annual meeting of stockholders. Her appointment brings the total number of Directors on the Board to nine, reflecting Robinhood's commitment to diverse perspectives and robust governance.
As part of her responsibilities, Segal will participate in Robinhood's Non-Employee Director Compensation Program, outlined in the company's Proxy Statement for the 2023 Annual Meeting of Stockholders. This program ensures equitable compensation for the Directors' valuable contributions to the company's growth and development.
Importantly, Segal's appointment is characterized by transparency and independence. There are no preexisting arrangements or understandings between Segal and any other individuals regarding her selection as a director. She has no familial ties with Robinhood's current directors or executive officers. Furthermore, Segal does not have any direct or indirect material interest in transactions that necessitate disclosure, emphasizing her dedication to impartial governance.
Surging Trading Volumes across All Asset Classes in February
In February 2024, Robinhood continued its growth trajectory, reporting increases in key areas such as funded customers, assets under custody (AUC), and trading volumes, as reported by Finance Magnates. The platform's funded customers reached 23.6 million, with AUC reaching $118.7 billion. Cryptocurrency volumes surged 86%, while deposited funds grew 60%. Trading volumes across all asset classes saw significant increases compared to the previous month and year, with equity notional trading volumes up 36% and options contracts rising 12%. Cryptocurrency trading activity showed particularly strong growth, increasing 86% annually.
