Derivatives marketplace CME Group announced its chief executive Craig Donohue plans to retire at year's end when his contract expires.
Donohue, who's been at the helm of the firm since 2004, will be replaced as CEO by CME president Phupinder Gill. Meanwhile executive chairman Terry Duffy will take over as president, the company said.
Duffy lauded Donohue for helping move CME from a member-owned organization into a for-profit, public company that has expanded into every major asset class with its purchases of the Chicago Board of Trade and the New York Mercantile Exchange.
