CBOT Holdings, Inc., holding company for the Chicago Board of Trade (CBOT®) (NYSE: BOT), one of the leading global derivatives exchanges, following its annual meeting of stockholders, today announced that Charles P. Carey was re-elected as a director and reappointed by the Board of Directors to serve a third consecutive two-year term as Chairman of the Board.
In addition to Mr. Carey, the following directors were re-elected in connection with the annual meeting: John E. Callahan, James E. Cashman, Mark E. Cermak, Brent M. Coan, James A. Donaldson, C.C. Odom, II and Charles M. Wolin.
The CBOT also provided stockholders at the annual meeting with an update on the proposed merger with Chicago Mercantile Exchange Holdings Inc. (CME) and the unsolicited proposal from IntercontinentalExchange, Inc. (ICE) and a review of the company’s historical results.
“We stand at a critical juncture where decisions made by our directors and stockholders will dramatically shape the Exchange’s future,” said Charles P. Carey. “I’m confident that following a thorough review, we will arrive at the best possible strategic direction to secure the CBOT’s ongoing success.”
The CBOT reiterated that the Board of Directors of CBOT Holdings and the CBOT, in accordance with their fiduciary duties and the terms of the CME merger agreement, continue to review the unsolicited proposal from ICE. The company emphasized that the Boards of CBOT Holdings and the CBOT are committed to a well-governed process that will result in the best possible outcome for stockholders and members.
“Today, we operate in an industry undergoing rapid change with increasing global competition and consolidation,” said CBOT President and CEO Bernard W. Dan. “With the support of our members, the management and Board, through a series of critical decisions, we have successfully transformed the Board of Trade to a for-profit, public company that has consistently achieved solid financial results.”
