International Securities Exchange (ISE) is to replace
co-founder, president and chief executive officer David Krell,
who will retire next January and be succeeded by fellow
co-founder and chief operating officer Gary Katz.
Krell told FO Week that the company has been
discussing its succession plan for some time as part of the
company's strategic planning. He has been president and CEO of
ISE since its creation ten years ago.
"We have a fairly aggressive management process and
succession planning is part of that process," Krell said. "It's
not something sudden or surprising. Every department head at
the ISE has a succession process; this is just one example of
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