CME Group announced Wednesday that Lynne Fitzpatrick, an insider at the exchange operator, has been selected as its next chief executive officer, taking over from longtime leader Terry Duffy.
Duffy, who became chairman in 2002 and has guided CME for over a quarter century, is set to step down from the CEO role on March 1 and will move into an executive chairman position. Following the announcement, shares of the company fell 4% in premarket trading.
Fitzpatrick currently serves as CME’s president and chief financial officer. When she officially assumes the CEO role, she will also be added to the company’s board of directors, according to CME.
