In a widely anticipated changing of the guard, Chicago Mercantile Exchange (CME) president and ceo Jim McNulty will leave the exchange when his contract expires at the end of the year. He will be replaced by Craig Donohue, who has been sharing the office of ceo with McNulty.
News that McNulty will step down on 31 December sent the CME's share price down 8.1% to $71.60 last Tuesday. Shares rallied somewhat on Wednesday, closing at $73.40.
McNulty's departure...