Derivatives and securities exchange network Cboe Global Markets, Inc. has announced that its Board of Directors has appointed longtime global financial markets executive Craig S. Donohue as the company’s new Chief Executive Officer and a member of the Board, effective May 7, 2025.

Mr. Donohue succeeds Fredric Tomczyk who will step down as CEO and remain on the Board.

Mr. Donohue is a seasoned global derivatives market executive with more than 30 years of experience, including two decades at CME Group where he spent eight years as CEO before departing in 2012. Over the last decade, Mr. Donohue has served as Chairman of the Board at OCC, the world’s largest equity derivatives clearing organization, where he also spent three years as CEO from 2016 until 2019.

Mr. Donohue commented on his appointment:

“Cboe is an institution I have long admired, and I am honored to be their next CEO. I am excited to work with the strong team to drive forward our strategic initiatives, enhance our market leadership and build upon the remarkable reputation that Cboe has established over the last five decades as a leading global derivatives market player. Cboe’s commitment to innovation, excellence and teamwork aligns with my values and vision and I am thrilled to guide Cboe into its next chapter.”

Upon the effective date of Mr. Donohue’s appointment as CEO, Mr. Tomczyk will transition into an advisory role through the end of June 2025.