The Board also named former exchange Chairman Ronald F. Young as a full member director for a one-year term to fill the position vacated by Mr. Corvino. A member of the CBOT since 1971, Mr. Young served as a full member director from 1975 to 1977 and as Chairman in 1978.
CBOT Chairman Charles P. Carey said, "I am pleased to have Bob Corvino assume the responsibilities of Vice Chairman. His advice and counsel have been invaluable in helping the Board of Directors set the proper strategic direction for the Exchange. I also am glad that Ron Young agreed to take Bob's position on the Board. As a former Chairman and director, Ron brings a wealth of experience and market knowledge to the Board that will be invaluable this year."
Additionally, the Board approved the appointment of former Governor James R. Thompson to a fourth term as a Public Director. Thompson, who served 14 years as Governor of Illinois, was first appointed to the CBOT Board of Directors in 1990. Thompson currently is Chairman of the law firm of Winston & Strawn in Chicago.
CBOT President and CEO Bernard W. Dan said, "Governor Thompson's desire to continue his role as a public director on our Board reflects his support and commitment to our members and markets as well as to the institution. We are very fortunate that he agreed to stay on our Board, as we value his leadership and outside perspective."
The CBOT's Executive Committee will consist of Chairman Carey, Vice Chairman Corvino, Directors Mark E. Cermak, Nickolas J. Neubauer and C.C. Odom, II, and President and CEO Bernard W. Dan.
