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Cboe Global Markets, Inc. (Cboe: CBOE) has appointed Craig S. Donohue as its new Chief Executive Officer and Board member, effective 7 May 2025, the company announced yesterday.
Donohue, a veteran derivatives market executive with more than 30 years of experience, will succeed Fredric Tomczyk, who will step down as CEO but remain on the Board. Tomczyk will transition to an advisory role through the end of June 2025.
"We are thrilled to welcome Craig to Cboe. His visionary leadership, deep experience, industry relationships, and proven track record in global financial markets make him an excellent individual to take the helm as CEO at Cboe," said William M. Farrow III, Chairman of the Board of Cboe Global Markets. "The Board looks forward to working closely with Craig. We believe his strategic vision and leadership will drive the company towards continued growth and increased value for shareholders."
Donohue brings significant industry credentials to the role, having served as CEO of CME Group for eight years until 2012. During his tenure there, he oversaw more than $20 billion in mergers and acquisitions, including CME's merger with the Chicago Board of Trade in 2007 and the acquisition of both the New York Mercantile Exchange and the Commodity Exchange Inc. in 2008.
Most recently, Donohue has served as Chairman of the Board at OCC, the world's largest equity derivatives clearing organisation, where he also spent three years as CEO from 2016 until 2019. He joined OCC as Executive Chairman in January 2014 following its designation as a Systemically Important Financial Market Utility.
"Cboe is an institution I have long admired, and I am honored to be their next CEO," Donohue commented on his appointment. "I am excited to work with the strong team to drive forward our strategic initiatives, enhance our market leadership and build upon the remarkable reputation that Cboe has established over the last five decades as a leading global derivatives market player. Cboe's commitment to innovation, excellence and teamwork aligns with my values and vision and I am thrilled to guide Cboe into its next chapter."
Fredric (Fred) Tomczyk, Board Member, Cboe
Tomczyk, who has led the company for the past 18 months, expressed confidence in his successor: "Craig is a highly accomplished and respected leader in the global derivatives industry, and will no doubt lead Cboe to new heights. He shares Cboe's values and passion for creating a strong corporate culture, delivering best-in-class service to clients and a relentless focus on strategy and execution."
Donohue holds a Master of Management from Northwestern University's Kellogg Graduate School of Management, a Master of Law in Financial Services Regulation from IIT Chicago-Kent College of Law, a Juris Doctor from The John Marshall Law School, and a Bachelor of Arts in political science and history from Drake University.
Cboe Global Markets describes itself as the world's leading derivatives and securities exchange network, delivering trading, clearing and investment solutions across North America, Europe and Asia Pacific.
