Christos Cotsakos

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Christos M. Cotsakos (born July 29, 1948) is Founder, Chairman of the Board, CEO, and President of Mainstream Holdings.

Contents

[edit] Early Life & Education

Christos M. Cotsakos is a first-generation Greek-American from Paterson, New Jersey.[1] He is the forth of five children. His mother worked as a store clerk and his father worked as a cook.[2]

Cotsakos graduated from Eastside High School in 1965.[3] He enlisted in the US Army in 1967. He served in the Vietnam War as a fire team leader and squad leader with Bravo Company, 2nd Battalion, 501st Infantry, 101st Airborne Division.[4] He was honorably discharged from active duty in 1970.

Because of Cotsakos’ poor performance in high school, he used a family connection to get accepted to William Paterson University in New Jersey.[2] He received a BA in Communication from William Paterson in 1973. In 1983, he received an MBA from Pepperdine University. Cotsakos later earned a PhD in Economics from University of London. E*TRADE, which employed Cotsakos at the time, paid for all travel, hotel, and meal expenses relating to the completion of the Ph.D. program. [5]

[edit] Personal life

Christos Cotsakos is married to Tami Cotsakos. She also holds a B.S. in Music and a teaching credential (K-12) from William Paterson University '71. [6] Together they have one daughter, Suzanne Renee. Suzanne pursued an MBA at her father's namesake institution: the Cotsakos College of Business at the William Paterson University.[6]

In 2003, he listed his Atherton, California home for $28 million.[7]

[edit] Career

In 1973, Cotsakos started as a package handler at Federal Express in Los Angeles. In 1988 he became VP for European Operations, a title he held until 1992. For his next job, he stayed in Europe to work for ACNielsen, a market research firm. He was promoted to co-CEO in 1995. He left the Nielsen Company in 1996 to become CEO of E*TRADE, a financial services company. [8]

[edit] E*TRADE

Cotsakos is former Chairman of the Board and CEO for E*TRADE, a financial services company. He was named president and CEO in April 1996. [9] E*TRADE had its IPO on August 16, 1996. [10] With Cotsakos's leadership, E*TRADE became a leading online financial services company. [11] In 2000, Cotsakos was instrumental in acquiring Telebanc. The Chairman of the board of directors, President and Chief Executive Officer of Telebanc Financial Corporation and Telebank was Mitch Caplan.[12]

In 2001, E*TRADE experienced losses of $242 million. On April 30th, 2002 E*TRADE disclosed that it had paid Cotsakos $77 million in a compensation package. On May 10, 2002 Cotsakos offered to return $21 million to E*TRADE. [13] Nevertheless, 38 negative articles were written about Cotsakos’ excess compensation. [14]

Cotsakos resigned from E*TRADE on January 23, 2003.[15]

[edit] Philanthropy

Cotsakos served as co-chair for the Vietnam Veterans Memorial Fund, together with Senator Charles Hagel (Nebraska) and James Kimsey (founder of America Online). In 2005, Cotsakos agreed to lead a nationwide effort to create an educational center near The Wall in Washington DC.[4]

[edit] Awards and Recognition

Cotsakos received the Bronze Star with "V," the Army Commendation Medal with "V," the Purple Heart, the Air Medal, Parachute Wings and the Combat Infantryman's Badge. [4]

[edit] References

  1. ^ "RESUME: Christos M. Cotsakos, CEO, E*trade.com", BusinessWeek, February 7, 2000. Accessed 26 November 2007.
  2. ^ a b "Tricks of E*Trade", BusinessWeek, February 7, 2000. Accessed 26 November 2007.
  3. ^ "Trading on a great education wp's richard reiss has a conversation with E*TRADE ceo christos cotsakos", WP: The Magazine of William Paterson University"], Fall/Winter 1999. Accessed December 6, 2007. "Born and raised in Paterson, New Jersey, Cotsakos was a 1965 graduate of Eastside High School. He will tell you -- 'barely.'"
  4. ^ a b c "Cotsakos Accepts Chairmanship of Campaign", The Vietnam Veterans Memorial Fund, March 2, 2005. Accessed 26 November 2007.
  5. ^ "Employment Agreement”, FindLaw, March 15, 1996. Accessed 26 November 2007.
  6. ^ a b "Christos M. Cotsakos, College of Business”, William Paterson University. Accessed 26 November 2007.
  7. ^ Schiffman, Betsy "Notorious CEOs' Notorious Homes”, Forbes. Accessed 26 November 2007.
  8. ^ "E*TRADE Financial Corporation (ETFC:NASDAQ), “Business Week.”Accessed 26 November 2007.
  9. ^ "E*Trade Financial Corporation", “Funding Universe." Accessed 26 November 2007.
  10. ^ "Price Range of Common Stock", “EDGAR Online." Accessed 26 November 2007.
  11. ^ "E*Trade Group Inc - One Of The First All-electronic Brokerages", “Net Industries." Accessed 26 November 2007.
  12. ^ "Mitchell H Caplan", “Forbes.com." Accessed 26 November 2007.
  13. ^ Elgin, Ben " E*Trade: CEO Pay Isn't the Only Problem ", BusinessWeek, May 17, 2002. Accessed 26 November 2007.
  14. ^ " What Happens When the Press Blasts Your CEO for Excess Compensation? Apparently Not Much", Knowledge@Wharton, March 22, 2006. Accessed 26 November 2007.
  15. ^ " E Trade Financial Corp • 10-K • For 12/31/02 • EX-10.57", "Separation Agreement" January 23, 2006. Accessed 26 November 2007.

[edit] External links

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