The Board of Directors of the Chicago Board Options Exchange (CBOE) today announced the extension of William J. Brodsky's contract for an additional two years as CBOE Chairman and Chief Executive Officer. Brodsky has served as CBOE Chairman and CEO since February 1997.
Speaking on behalf of the CBOE Board of Directors, CBOE Vice Chairman John Smollen said, "CBOE has overcome significant competitive challenges and launched important strategic initiatives under Bill's leadership, and we are pleased to have reached this agreement. The Board's decision also recognizes the importance of continuity in leadership as CBOE moves forward in its demutualization process. I am confident that by continuing to work together, we will realize our shared vision for CBOE's ongoing success."
"I am delighted to continue to serve as CBOE Chairman and CEO," said Brodsky. "It has been my great pleasure to work with CBOE's talented and hard-working membership, staff, and Board over the past nine years. Together, we have laid the foundation for a future that holds great promise for CBOE. I look forward to moving forward with CBOE's plan to demutualize and to all that we can accomplish in the months and years ahead."
Under the terms of his new contract, Brodsky, 62, will serve as CBOE Chairman and CEO until December 2009. Financial terms are comparable to those of the current contract and will be disclosed as they customarily are after the close of the fiscal year.
