In announcing the appointment Brennan said, "Our industry is changing at Internet speed. In acting swiftly and in naming someone as talented, experienced and as respected as Dennis Dutterer, the Board is clearly stating that it is committed to continue moving forward to face the challenges and to deal with other strategic initiatives which will create new ways of doing business.
"Dennis is well known to the members, member firms, and staff. He has worked with them in his clearing capacity. He is intimately familiar with all the aspects of our business. As a result of his years of regulatory experience in Washington, he understands the legislative issues which face us."
In accepting the appointment as Interim President and CEO of the CBOT Mr. Dutterer said, "I am pleased that I will be able to assist the Exchange during this period of transition. I am aware of the issues facing the industry and the CBOT specifically, and I look forward to working with the members and staff."
Prior to serving as the President and CEO of the Board of Trade Clearing Corporation, Dutterer was the Executive Vice President, Chief Administrative Officer and General Counsel of BOTCC. In that capacity, his responsibilities included legal, regulatory, financial and human resource matters.
Before beginning his professional activities in the commodities industry 19 years ago, Mr. Dutterer was General Counsel to the Commodities Futures Trading Commission. He also served in the U.S. Department of Justice as an Assistant U.S. Attorney for the District of Columbia as well as Deputy Chief of the Civil Division.
