ISS Names New Head

January 27, 2004 ( - Proxy adviser Institutional Shareholder Services (ISS) has named John Connolly the new president and chief executive officer (CEO).

Connolly joins ISS after a stint at IBM where he served in the global general manager of the financial-services business role. He will take over for current ISS CEO Jamie Heard, who will become vice chairman, Dow Jones reports.

Prior to Big Blue, Connolly was the founder of consulting and research firm, Mainspring Inc. IBM acquired Mindspring in 2001.

The Rockville, Maryland-based (ISS) advices large investors on how they should vote on proxy issues that corporations put before shareholders. The company also provides corporate- governance services.

Connolly will move into his new office effective March 1.