CME Group CEO Terry Duffy to step down in 2027, CFO to succeed

CME Group (NASDAQ: CME) announced that Chairman and Chief Executive Officer Terry Duffy will transition to the role of Executive Chairman on March 1, 2027, after more than 25 years leading the company.

Lynne Fitzpatrick, currently President and Chief Financial Officer, will be named CEO and will join the CME Group Board of Directors at that time.

Duffy was appointed Chairman in 2002 and has held the combined Chairman and CEO title since 2016. During his tenure, CME Group transitioned from floor-based to electronic trading, completed a merger with the Chicago Board of Trade in 2007, and acquired the New York Mercantile Exchange in 2008. The company reported an average daily volume of 28.1 million contracts last year and carries a market capitalization of more than $95 billion.

"Leading CME Group through more than 25 years of transformative growth has been among the highest honors of my life," Duffy said in a statement.

Fitzpatrick joined CME Group in 2006 and has held roles of increasing responsibility, including Managing Director of Corporate Development and Treasurer, Deputy CFO, and CFO before being named President and CFO in 2024. She previously worked as an investment banker at Credit Suisse and UBS. She holds a bachelor's degree in economics from Brown University and an MBA from the University of Chicago Booth School of Business.

"I am honored to have the opportunity to succeed him as CEO next March," Fitzpatrick said.

Charlie Carey, Lead Director of the CME Group Board of Directors, credited Duffy with building CME Group into what he described as "one of the strongest global financial services organizations in the world."

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