Nasdaq has expanded its board of directors to 18. The exchange has added six new directors as it prepares an IPO.

The announcement comes following Nasdaq’s first annual meeting of its shareholders, held today at the Nasdaq MarketSite in New York City. The six new Nasdaq directors are: Dr. Josef Ackermann, Michael Clark, former Secretary of Defense William Cohen, Warren Hellman, Kenneth Pasternak and Hardwick Simmons.

Commenting on the election of the new directors, Nasdaq chairman Frank Zarb said, “These additions place Nasdaq in a better position than ever before from the standpoint of its corporate governance team. Each of these additions brings experience and wisdom to the process of guiding Nasdaq in the future. Joseph Ackerman and Michael Clark both bring world-class international banking and investment banking credentials. Former Secretary of Defense, Senator, and Member of the U.S. House of Representatives William Cohen brings knowledge of public policy and government at the highest levels. Warren Hellman brings a lifetime of experience in growing and nurturing successful new ventures. Ken Pasternak heads Nasdaq’s largest Market Maker, is a partner in Nasdaq Europe, and a recognized leader in the equities business. Wick Simmons is Nasdaq’s CEO and the leader who will move Nasdaq to the next level. With the expanded team of directors on our Board, we are in good shape to pursue an initial public offering and move forward on both domestic and global initiatives.”

Nasdaq reiterated that the earliest possible time for an IPO is expected to be in 2002.