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Former State Street Corp. executive Marshall N. Carter was elected chairman of the New York Stock Exchange's board of directors, the exchange said Thursday. He succeeds John Reed, the former co-CEO of Citigroup Inc. who took over the chairmanship in 2003 after former chairman and CEO Richard A. Grasso resigned amid controversy over his pay package.

Financier Carl Icahn, Blockbuster Inc.'s largest individual shareholder with a 9.7 percent stake, says the movie-rental leader bungled the attempted takeover of its top rival and he vowed to nominate his own candidates for Blockbuster's board. Blockbuster shares rose 57 cents to close at $9.70 Thursday on the New York Stock Exchange.

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