CME Group Announces Employment Agreement Extension for Chairman and Chief Executive Officer Terry Duffy
Rhea-AI Summary
CME Group announced key leadership changes, including the extension of Chairman and CEO Terry Duffy's contract through December 31, 2026. Lynne Fitzpatrick has been promoted to President and Chief Financial Officer, while Chief Operating Officer Julie Holzrichter will step down to serve as an advisor. Suzanne Sprague will succeed Holzrichter as Chief Operating Officer and Global Head of Clearing. Holzrichter, with over 30 years of service, played a important role in the company's transition from open outcry to electronic trading and led operational integrations of major mergers.
Positive
- Contract extension of successful CEO Terry Duffy ensures leadership continuity
- Smooth internal succession plan with experienced executives taking new roles
- Retention of Julie Holzrichter's expertise in advisory capacity
Negative
- None.
News Market Reaction
On the day this news was published, CME gained 0.39%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Chief Financial Officer Lynne Fitzpatrick Appointed to President and CFO
- Chief Operating Officer Julie Holzrichter to Step Down and Assume Advisory Role
- Suzanne Sprague to Succeed Holzrichter
The company also announced Lynne Fitzpatrick will take on the expanded role of President and Chief Financial Officer. Additionally, its Chief Operating Officer Julie Holzrichter has decided to step down from her role to begin serving as an advisor to the company. Suzanne Sprague will succeed Holzrichter as Chief Operating Officer and Global Head of Clearing.
"On behalf of CME Group, I want to congratulate and thank Julie for her many contributions," said CME Group Chairman and Chief Executive Officer Terry Duffy. "I have worked closely with Julie for more than three decades and, during that time, she has been a valued colleague, instrumental and effective leader and, most importantly, a good friend to me and so many others within our company and industry. Throughout her career, Julie has made significant contributions to our organization that have helped us grow our business globally."
"I am also very pleased to promote both Lynne and Suzanne into expanded roles. We are very fortunate to have built such a strong, capable management team that will ensure a seamless transition as our company continues to move forward."
With more than 30 years of service, Holzrichter has held roles of increasing responsibility, rising through the company's ranks from market reporter to a senior member of the management team. She was instrumental in helping the company transition from open outcry to electronic trading as well as leading operational integrations resulting from mergers with the
"It has been my greatest honor to work with so many talented and knowledgeable colleagues and clients during my career at CME Group," said Holzrichter. "I grew up at this great company and am proud to have participated in its dynamic growth as well as the evolution of the broader industry."
Fitzpatrick, who has been CFO since 2023, joined the company in 2006. She previously served as Senior Managing Director & Deputy Chief Financial Officer, Managing Director of Corporate Development and Treasurer, and in a number of positions across the company's finance organization. She earned a bachelor's degree in economics from Brown University and an MBA from the University of Chicago Booth School of Business.
Sprague, who has served as Senior Managing Director and Global Head of Clearing and Post-Trade Services since 2022, joined CME Group in 2002. She has served in a range of leadership positions in financial and risk management since that time, including Managing Director, Credit & Liquidity Risk, Risk Policy & Banking. She earned a bachelor's degree with concentrations in finance and international business from
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and
CME-G
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SOURCE CME Group
FAQ
When will Terry Duffy's contract extension at CME Group end?
Who is replacing Julie Holzrichter as COO at CME Group?
What is Lynne Fitzpatrick's new role at CME Group?
