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The Intercontinental Exchange has radically changed its leadership, including the two top positions on the New York Stock Exchange.
Stacey Cunningham, who became the first woman to lead the NYSE in 2018, will step down as president. Jeff Sprecher, founder of ICE and CEO, will relinquish his position as chair of the NYSE, which has existed since ICE bought the Big Board in 2013 for $ 8.2bn.
In an email to staff Monday, Sprecher said the change was the biggest in the 21-year-old ICE history and aimed to allow a new generation of executives to learn more as the team enters its thirteenth year.
“I’m not going anywhere, but. . . Against this group of world leaders with new or larger responsibilities is essential for good leadership and management of our company, ”he wrote.
Sprecher, who founded ICE as a power trading business in the early part of the century, built the Atlanta team into a $ 70bn large-scale sales and distribution platform, as well as providing data and cleaning.
He also noted that investors are keen to ensure that goods and services address climate change and social unrest. He also talked about the greater opportunities for Ellie Mae, a ICE lender who bought $ 11bn last year.
The changes were announced as part of a major overhaul that included the appointment of a new team chief and chief information officer, adding to the ranks of several other managers. All the nominees were employees of ICE.
Lynn Martin, president of ICE’s core business and data services business, took over from Cunningham in January.
Martin started his career at IBM before moving to a business from the NYSE in 2001. He led the ICE data business since 2015, when it started. he found Opinions of the company Interactive Data Corp.
Sprecher will be replaced as Sharon Bowen, a former Commissioner to the Commodity Futures Trading Commission, a major US stock market leader.
Sprecher said Cunningham is “starting a new chapter in his career”, and has joined the NYSE board of directors.
He also said that “he led the NYSE through an amazing period in which he saw his professionalism and his business practices flourish even in times of crisis. He started a new chapter with a strong and powerful exchange for his efforts, and our deepest gratitude.”
Stuart Williams has resigned from the ICE Futures Europe title, his highest-profile post in Europe, to become chief executive officer. Jennifer Ilkew, who runs an ICE business in Asia from Singapore, has returned to the US to run her next US position.
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