Donohue to Retire from CME
The Chicago Mercantile Exchange Group (CME) has announced that its current CEO, Craig Donohue, will retire at the year's end.
After Donohue's contract expires in December 2012, current president Phupinder Gill will take over as CEO, while executive chairman Terrence Duffy's role will be expanded to include the title of president. Duffy's remit will include government relations, corporate marketing and communications, while Gill will assume responsibility for the remaining areas of the business.
"Going forward, technology, clearing and operational excellence will continue to be an important facet of how we deliver value to our customers and drive growth for shareholders - all of the areas in which Gill is extremely experienced, making him the right person to serve as our future CEO," says Duffy. "The Board of Directors and I believe that Gill's decades of experience in all aspects of our business, coupled with his extensive experience in Asia, position him to lead us forward with the successful execution of our global growth strategy."
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