CME Group announced on June 17, 2026, that Terry Duffy will step down as Chief Executive Officer and transition to the role of Executive Chairman on March 1, 2027. Lynne Fitzpatrick, currently President and Chief Financial Officer, will be appointed Chief Executive Officer and will join the CME Group Board of Directors effective March 1, 2027. This leadership change marks a significant transition for the world's leading derivatives marketplace after more than two decades under Duffy's guidance.
Duffy has served as Chairman since 2002 and has held the dual role of Chairman and CEO since 2016. During his tenure, he led the company through a major transformation from floor-based to electronic trading and executed key mergers, including the acquisition of the Chicago Board of Trade in 2007 and the New York Mercantile Exchange in 2008. Under his leadership, CME Group achieved an average daily volume of 28.1 million contracts last year and grew its market capitalization to more than $95 billion, an increase of over 8,000% since the company's initial public offering in 2002.
"Leading CME Group through more than 25 years of transformative growth has been among the highest honors of my life," said Duffy. He praised Fitzpatrick's strategic and financial expertise, noting her 20 years of experience with the company make her the right leader to continue driving value for clients and shareholders.
Leadership Transition Details
The transition involves the following key changes effective March 1, 2027:
| Role |
Current Incumbent |
New Incumbent |
| Chief Executive Officer |
Terry Duffy |
Lynne Fitzpatrick |
| Executive Chairman |
New Role |
Terry Duffy |
| Board of Directors |
N/A |
Lynne Fitzpatrick (New Appointment) |
Fitzpatrick was appointed President and Chief Financial Officer in 2024. She previously served as Chief Financial Officer starting in 2023, Deputy Chief Financial Officer from 2022, and Managing Director of Corporate Development and Treasurer since 2017. Since joining CME Group in 2006, she has held various positions with increasing responsibility. Prior to her tenure at CME Group, she worked as an investment banker at Credit Suisse and UBS.
"It is my privilege to have been able to work with and learn from Terry over the last 20 years, and I am honored to have the opportunity to succeed him as CEO next March," said Fitzpatrick. She expressed her commitment to working with investors, clients, and employees globally to grow the core business and create shareholder value.
Charlie Carey, Lead Director of the CME Group Board of Directors, thanked Duffy for his tremendous leadership and highlighted his role in propelling CME Group into one of the strongest global financial services organizations. The Board expressed confidence that Duffy's continued presence as Executive Chairman and Fitzpatrick's leadership will sustain the company's leading position in the dynamic marketplace.
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