Intercontinental Exchange (NYSE:ICE), a global network of exchanges and clearing houses, has added William Hague to the Boards of Intercontinental Exchange, Inc. and ICE Futures Europe, according to an ICE statement.
In his new duality of roles, Mr. Hague will be stepping into the position of Chairman of ICE Futures Europe only in January 2016, where he will be succeeding Bob Reid, ICE’s acting Chairman who will be relinquishing his post and retiring after a 16-year tenure. Conversely, Bob Reid will continue as the Chairman of ICE Clear Europe through the duration of the 2015-year.
Mr. Hague will be joining ICE after numerous stints as a member of the British Parliament between 1989 to 2015. He originally entered the UK Cabinet in 1995 and led the Conservative Party from 1997 to 2001. Additionally, he also served as First Secretary of State and Foreign Secretary between 2014 and 2015.
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According to Jeffrey C. Sprecher, Chairman and Chief Executive Officer (CEO) of ICE in a statement on the transition, “On behalf of the board, I would like to thank Sir Bob for his tireless energy, commitment and dedication to the exchange, our customers and shareholders over the last 16 years. His guidance helped to create one of the world’s leading futures exchanges.”
“We welcome William as incoming Chairman of ICE Futures Europe and to the Intercontinental Exchange board. He brings a unique combination of governmental experience and a deep understanding of business. Our markets will benefit from Mr. Hague’s private and public sector expertise as we seek to continue to grow by serving our customers in new ways,” he added.
“I am delighted to be joining ICE, both to chair London’s largest derivatives exchange and to join the board of one of the world’s leading exchange groups,” noted Mr. Hague in an accompanying statement.
“Jeff and his colleagues have turned what was a start-up in the year 2000 to one of the industry leaders, with an outstanding track record of innovation. ICE’s exchanges and clearing houses provide customers with transparency and liquidity; and the company is well-positioned to meet the regulatory demands for a more resilient financial system as markets become ever more globalised. I’m looking forward to working with Jeff and the rest of the ICE team around the world as the business moves into the next phase of its growth,” he reiterated.