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In 1953 the Curb Exchange was renamed the American Stock Exchange. The exchange was shaken by a scandal in 1961, and in 1962 began a reorganization. Its reputation recently damaged by charges of mismanagement, in 1962 the American Stock Exchange named Edwin Etherington its president. Writes CNN, he and executive vice president Paul Kolton were "tapped in 1962 to clean up and reinvigorate the scandal-plagued American Stock Exchange." At AMEX for five years, he was credited with improving opportunities for minorities and women. In 1971, Johnson Products Company became the first African American-owned company to be listed on the American Stock Exchange.
1953