The quick integration of the New York Stock Exchange into its new owner, Atlanta-based IntercontinentalExchange, is leading to an earlier-than-planned departure of the exchange’s CEO.
Duncan Niederauer, CEO of NYSE Group and co-president of ICE, has accelerated his planned exit, according to a statement from the company. He will stay on as president of ICE until August. The former ICE Futures U.S. president and current chief operating officer of the exchange, Thomas W. Farley, will lead the NYSE.
“The transition to ICE ownership has gone smoothly, and with our integration well on track, accelerating the final stages of my transition will only extend that progress and provide clarity on future leadership,” Niederauer said in a statement.
ICE chairman and CEO Jeff Sprecher said Niederauer’s work “through extraordinary change” positioned the NYSE for success and put the team on track to operate as a combined company. Farley is well-positioned to lead the NYSE, Sprecher said.
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