Carole Stone, a newly-elected Public Director, served as director of the New York State Division of the Budget from June 2000 to October 2004. She worked for the Division of the Budget for over 25 years, serving as deputy director as well. She has also been the chairman of the Public Authorities Control Board and served as an ex-officio member of the board of directors of various New York State entities. Ms. Stone is currently chairman of the New York Racing Association Oversight Board and is a commissioner on the New York State Commission on Public Authority Reform. She will serve a three-year term.
James Boris and Eugene Sunshine were re-elected as Public Directors for three-year terms. Mr. Boris was most recently chairman and chief executive officer of JB Capital Management, LLC, a private investment firm, and is former chairman and CEO of Kemper Securities, Inc, (renamed EVEREN Securities, Inc. and now Wachovia Securities, Inc.). He is a member of the CBOE Compensation and Special Appointments Committees, and is chairman of the Business Model Task Force.
Eugene Sunshine is the senior vice president for business and finance at Northwestern University. Previously, Mr. Sunshine had been deputy commissioner for tax policy and state treasurer at the New York State Department of Taxation and Finance, director of energy conservation for the New York State Energy Office, and senior budget examiner for the New York State Division of the Budget. He is a member of CBOE's Audit and Executive Committees, and is chairman of CBOE's Compensation Committee.
William Power was re-elected to serve a three-year term as a Lessor Director. A CBOE member since 1973, Mr. Power is vice chairman of the Governance Committee, serves on the Compensation, Floor Directors and Executive Committees and is a member of the Business Model Task Force. He is a member of the New York Stock Exchange and currently serves on its board of executives.
Edward Tilly was re-elected to serve a three-year term as Floor Director. Mr. Tilly has been a CBOE member since 1989, and is currently serving his second consecutive one-year term as vice chairman of the Exchange. Mr. Tilly has served as a member of the board of directors in six of the past eight years.He currently chairs the Floor Directors Committee, the Special Product Assignment Committee and the CBOE Competition Task Force. Mr. Tilly also serves on the Executive, Compensation and Special Appointments Committees, as well as the Business Model Task Force.
"The CBOE board of directors plays a critical role in charting the future course of the Exchange, and we value highly the contributions and hard work of all of our board members," said CBOE Chairman and Chief Executive Officer, William J. Brodsky. "I welcome our new member as well as our returning members and look forward to a productive new year together."
CBOE's board of directors consists of 22 members, equally balanced between 11 public (independent, non-industry) and 11 industry (member) directors, plus the chairman and chief executive officer of CBOE.CBOE's governance structure also includes a Lead Director-a public director who acts as a liaison between the Board and Exchange management. CBOE's Governance, Audit and Compensation Committees are each chaired by a public director, and the Regulatory Oversight Committee is composed solely of public directors.
In other election results, five individuals were elected to the Nominating Committee: Richard Fuller, partner, G-Bar Limited Partnership and CBOE member was elected to serve a one-year term. Peter Bottini, executive vice president, optionsXpress, Inc.; J. Douglas Gray, managing director, Braydon Partners, LLC; Jeffrey Kirsch, CBOE Lessor member; and Dennis Carta, CBOE member and chairman of the Index Market Performance Committee, were elected to serve three-year terms.
The Nominating Committee is a ten-person committee, comprised of a cross section of the CBOE membership and public representatives, and is charged with selecting candidates for the board of directors and certain other committees.
CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the SEC. For additional information about the CBOE and its products, access the CBOE website at: http://www.cboe.com/