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- Dave Howson, Global President, departing company to return to UK
- Cathy Clay, EVP and Global Head of Derivatives, and Chris Isaacson, EVP and Chief Operating Officer, expand global leadership roles
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced that Dave Howson, Executive Vice President and Global President, will be stepping down from the role effective August 1, 2025. Howson will be returning home to the UK after spending three years in Chicago in his role as Global President.
Cathy Clay, EVP and Global Head of Derivatives, and Chris Isaacson, EVP and Chief Operating Officer, are expanding their global leadership roles within the company. In addition to her current role overseeing the Global Derivatives business consisting of equity and index options and futures, Clay's responsibilities will be expanded to provide oversight of the Cboe Data Vantage business. In addition to his current role overseeing Technology, Operations and Risk, Isaacson's responsibilities will be expanded to include oversight of Cash Equities, Global FX and Clearing.
These changes leverage Clay and Isaacson's strong track records of success and excellent leadership skills that have benefited Cboe for many years. Separating the leadership and oversight of these businesses strengthens the company's strategic focus, while empowering innovation, enhancing operational agility, and positioning Cboe for sustained global growth. Following Howson's departure, Cboe CEO Craig Donohue will also assume the title of President.
Clay brings a strong entrepreneurial spirit and a proven track record in business building, having played a foundational role in the early development of the Cboe Data Vantage business. Aligning Global Derivatives and Cboe Data Vantage under Clay's direction will further integrate these business lines which are a key part of Cboe's growth strategy.
Isaacson brings a strong track record of leadership, innovation and broad markets experience with particularly deep expertise in cash equities, FX and clearing. Isaacson's leadership of these business lines will deliver continued strong performance, help fuel the Data Vantage business, and expand upon Cboe's position as one of the leading global equity market operators.
"Cathy and Chris are highly respected leaders with a deep commitment to excellence in all they do. I have great confidence in their ability to continue driving innovation and growth in their respective business portfolios and I look forward to working closely with them in their new roles, along with the rest of our deeply experienced executive leadership team," said Craig Donohue, Chief Executive Officer at Cboe Global Markets. "Dave has played a pivotal role in Cboe's growth and global expansion during the last several years and his contributions will have a lasting impact on Cboe. On behalf of our entire organization, I wish him all the best in his next chapter."
Dave Howson, Global President, commented: "I am grateful to Craig, the Board of Directors, and the entire Cboe team for their trust in me to help build a strong global business and culture. While it was a difficult decision to leave this great organization, I am looking forward to returning home to the UK to be closer to family. As I step away, I do so with immense pride in what we have achieved together. Cathy and Chris are strong leaders and I have the utmost confidence that Cboe is well-positioned for continued success."
