CME Group announced in August that its chief executive officer,
Craig Donohue, and president, Phupinder Gill, have both signed
contract extensions for an additional three years.
The future of Donohue had been the subject of media
speculation as he neared the end of his contract with the US
exchange, scheduled to finish at the end of 2009. His new
contract will expire on December 31, 2012.
Gill, whose contract was due for expiry in 2010, is tied to
the bourse until 2013.
Donohue joined the CME Group in 1989 as a lawyer before
being appointed managing director and chief administrative
He was then made chief executive officer in 2004, replacing
James McNulty — who oversaw the bourse’s
initial public offering in 2002.
Donohue has marshalled the bourse through a period of great
success, particularly the protracted merger with its neighbour,
the Chicago Board of Trade, and the New York Mercantile
Exchange, as well as other noteworthy projects such as the
joint listing agreement with Brazilian exchange BM&F.
Donohue said he was "excited" at what could be achieved
during the next three years. "While the last five years have
marked profound and positive change for CME Group, I am excited
about the many new opportunities that lie ahead for us in both
exchange and over-the-counter markets," Donohue said.
Gill, 48, has been president since January 2004 and joined
the company in 1988. He held several senior roles at the US
exchange, including managing director and president of the
exchange’s clearinghouse — a far cry from
his early days when he joined as a clerk.
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