CME Group has announced that longtime CEO Terry Duffy will step down in 2027, with President and CFO Lynne Fitzpatrick set to take over.
Duffy, 67, will become executive chairman starting March 1, 2027, the company announced. He steps down after more than 20 years, during which the Chicago-based exchange operator grew into one of the world’s largest derivatives marketplaces.
Fitzpatrick, with 20 years of experience at CME, has been serving as CFO since 2022.
Duffy told investors, “I am pleased our company is so well positioned and have never been more optimistic about its future potential. As I begin this transition to Executive Chairman, I look forward to working even more closely with Lynne, our soon-to-be CEO, to deliver enhanced benefits to our clients and new value for our shareholders. With more than 20 years of strategic and financial expertise and strong leadership abilities, Lynne is the right person at the right time. She will continue moving our company forward for our clients, shareholders and our entire global team.”
Fitzpatrick said, “It is my privilege to have been able to work with and learn from Terry over the last 20 years, and I am honored to have the opportunity to succeed him as CEO next March. I appreciate the confidence that he and the Board have placed in me, and I look forward to working with our investors, clients and employees around the world as we grow our core business and create value for our shareholders.”
Since becoming chairman in 2002, Duffy has guided CME’s evolution from a floor-based exchange to a global derivatives leader. He spearheaded the company’s IPO, its transition to electronic trading, and key industry acquisitions, including the 2007 merger with the Chicago Board of Trade and the 2008 acquisition of the New York Mercantile Exchange.
By CEO NA Editorial Staff
