CME Group is entering a new era without one of its longest tenured leaders – the group’s former Chairman, Jack Sandner will be retiring and stepping down from the group’s Board of Directors at the duration of his term in May 2018. While he will remain as a consultant to CME Group for a period of two years, his move ends a stint lasting more than four decades at the group.
Mr. Sandner has been a member of CME Group’s Board since 1978. During his forty-five years with CME Group, he has served as an integral component to its growing business. This includes overseeing its rise as one of the premier exchange groups in the US. Over his tenure, the group has further grown to be a national leader, even becoming one of the first venues in the US to launch Bitcoin futures last year.
“We sincerely thank Jack Sandner for his more than 40 years of leadership at CME Group. He made an incredible impact on our markets, our business and our role in the community. Likewise, he has been a valuable member of the board. We are pleased to be working with him in his consulting role,” explained CME Group Chairman and Chief Executive Officer Terry Duffy.
Mr. Sandner served as the Chairman of CME Group in multiple instances, including the periods of 1980-82, 1985-87, and 1990-97. Additionally, he was a Special Policy Advisor to CME from 1998 to 2005. More recently, he also served as Chairman of E*TRADE Futures between 2003 to 2013 and as President and CEO of RB&H Financial Services.
Following the move, Mr. Sandner is expected to stay with CME in a consulting role that will last until 2020. His departure represents a changing of the guard for CME Group as it looks to chart its way forward in the US futures and options market.
Commenting on the move and shift away from the Board position, Mr. Sandner commented: “It has been an honor and privilege to have served on the board of this extraordinary institution for over four decades, and I look forward to my new role.”