In addition, Donohue has been appointed to fill the remainder of McNulty's term on the Board of OneChicago LLC, a joint venture of CME, the Chicago Board Options Exchange Incorporated® (CBOE®) and the Chicago Board of Trade (CBOT®). Donohue also serves on the Board of the National Council on Economic Education (NCEE), a nonprofit organization that focuses on improving the economic literacy of students and teachers.
"Craig has been a leader in the successful execution of our business strategy and in his longstanding role as a liaison between our Board and management team," said Chairman Terry Duffy. "We welcome Craig to the Board, and we are confident he will continue to lead CME in the right direction in the years ahead by innovating new ideas and successfully executing those ideas in ways that create value for our customers and shareholders."
"Great challenges and opportunities lie ahead for CME, even as we close out another record volume year and complete our historic launch of the CME/CBOT Common Clearing Link," Donohue said. "We will commit ourselves to embracing change and promoting competition by focusing on our growth strategy and by demonstrating our continued ability to innovate new products and technology solutions. By successfully executing these objectives on behalf of our customers and our shareholders, CME will continue its leadership role in the global derivatives marketplace."
Donohue, 42, has served as Executive Vice President and Chief Administrative Officer, Office of the CEO, since October 2002. Prior to that, he served as Managing Director and Chief Administrative Officer of CME Holdings from its formation on Aug. 2, 2001 and of CME from April 2001. Previously, Donohue served as Managing Director, Business Development and Corporate/Legal Affairs of CME, as Senior Vice President and General Counsel of CME and as Vice President of the Division of Market Regulation. In all these roles, he contributed greatly to setting the organization's vision and developing growth strategies to expand CME's core business and global distribution. Donohue first joined CME in 1989 as a staff attorney. Before joining CME, Donohue was with the Chicago law firm of McBride Baker & Coles, where he worked on corporate and securities law matters.
Chicago Mercantile Exchange Holdings Inc. became the first publicly traded U.S. financial exchange on Dec. 6, 2002. The company was added to the Russell 1000® Index on July 1, 2003. It is the parent company of Chicago Mercantile Exchange Inc. (www.cme.com), the largest futures exchange in the United States. As an international marketplace, CME brings together buyers and sellers on its trading floors and its GLOBEX electronic trading platform. CME offers futures contracts and options on futures contracts primarily in four areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved about $1.4 billion per day in settlement payments in the first 11 months of 2003 and managed $34.1 billion in collateral deposits at Nov. 30, 2003.
