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Mr. Forney will continue in his current position until a successor is named, and he will be available to the Exchange through April of 2001. CHX Chairman Lee M. Mitchell will form a Search Committee to find a new president and CEO.
Forney has served as a member of the CHX Board of Governors since 1992 and was named president and CEO of the Exchange in 1995.
"I'm proud that I am leaving the CHX in its strongest position ever. To ensure its continued success, however, I believe that the Exchange needs a CEO who can make a longer time commitment," said Forney. "My intentions at age 59 are not to extend my commitments much beyond this point."
Commenting on Forney's decision, Mitchell said, "Bob has made significant contributions to the CHX over the past five years. The Exchange has experienced unprecedented growth under his leadership. We respect his decision to retire and wish him the best of success in his future endeavors."
The Chicago Stock Exchange was founded May 15, 1882 and is the second most active stock exchange in terms of share and trade volume. The CHX is also the fastest-growing exchange providing the strongest force for competition to all U.S. markets. The CHX trades more than 4,500 NYSE, Amex, Nasdaq and CHX-exclusive issues, more than any other stock exchange in the world.
