CHICAGO, Nov. 10, 2016 /PRNewswire/ -- CME Group today
announced that its Chief Executive Officer Phupinder Gill has informed the Company's Board
of Directors that he is retiring from the organization and Board,
at year end, December 31, 2016.
At the Board's request, Terry Duffy
has assumed the expanded role of Chairman and Chief Executive
Officer. Bryan Durkin, who is
currently Chief Commercial Officer, has been named President of CME
Group.
Gill, a 28-year veteran of CME Group, has served in numerous
roles during his tenure and was named CEO in 2012. During the
next two months, Gill will work with Duffy, Durkin and the CME
management team on the transition.
"Phupinder Gill has dedicated the
majority of his career to the futures industry, and has played a
valuable role in helping CME achieve dynamic global expansion,
developing a strong growth strategy, creating a strategic sales
team structure and establishing a customer-focused orientation
across the organization," said Duffy. "Going forward, our
strategy remains unchanged."
"At the same time, we are extremely pleased to promote Bryan to
President. Given his more than 30 years of experience in all
aspects of the business, he is a proven leader with deep product
and operational knowledge, as well as strong customer and industry
relationships. Together, with our management team and employees
around the world, we will continue to work to achieve our strategic
objectives and serve our clients globally."
"It has been my greatest honor to have been a part of the
transformation of CME Group," said Gill. "I am extremely
optimistic about the future of the company, due in large part to
the unparalleled expertise of our talented employees across the
world. I'm proud of all we have been able to achieve together
on behalf of our customers and shareholders. It is the right
time for me to retire, and I am confident that Terry, Bryan, and
the management team, along with the entire staff of CME, will
continue to further advance our strategy and lead the company into
the future."
About Terry Duffy
The Honorable Terrence A. Duffy has served as Executive Chairman
and President of CME Group since 2012. Previously, Duffy
served as Executive Chairman since July 2007. He served
as Chairman of the Board of CME and CME Holdings since April 2002 and as Executive Chairman since
October 2006, leading the company
through its strategic acquisitions of CBOT and NYMEX as well as
CME's initial public offering. He was Vice Chairman of the
Board of CME Holdings Inc. from its formation in August 2001 and of the Board of CME from 1998 to
April 2002. He was President of TDA Trading, Inc. from 1981
to 2002. Duffy currently serves as Co-Chair of the Mayo
Clinic Greater Chicago Leadership Council. He also is Vice Chairman
of the CME Group Foundation and President of the CME Group
Community Foundation.
About Bryan
Durkin
Bryan T. Durkin has served as
Chief Commercial Officer of CME Group since 2014 and as Chief
Operating Officer from 2007-2014. In these roles, he has had
responsibility for the company's global operations, technology,
product and business development, international growth and sales
functions. As part of his responsibilities, he led the global
company integrations following CME's merger with CBOT in 2007 and
NYMEX in 2008. Durkin previously held senior leadership roles
at CBOT, including Executive Vice President and Chief Operating
Officer. He serves on the Board of Directors of CME Europe
and Bursa Malaysia Derivatives Berhad. He is a member of the
COMEX Governors Committee, the CFTC's Technology Advisory and
Energy and Environmental Markets Advisory Committees. He also
serves on the Boards of the CME Group Community Foundation and
Misericordia.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also
operates CME Clearing, one of the world's leading central
counterparty clearing providers, which offers clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions. These
products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, Inc.
All other trademarks are the property of their respective owners.
Further information about CME Group (NASDAQ: CME) and its products
can be found at www.cmegroup.com.
CME-G
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SOURCE CME Group