Financial Services Industry
Industry: Email Alert RSS FeedCBOT seeks leader.(Chicago Board of Trade hires Korn/Ferry International to find a CEO)(Brief Article)
Futures (Cedar Falls, Iowa), November, 2000
The Chicago Board of Trade (CBOT) has retained the Korn/Ferry International executive recruitment firm to lead the search for a new chairman and CEO. The CBOT has been without a president since the departure of Thomas Donovan in April 2000 who held that position for 18 years.
Donovan announced his resignation after clashes with Chairman David Brennan. With three years remaining on his contract Donovan reportedly agreed to a buy-out package said to be worth $10 million. After Donovan stepped down, Dennis Dutterer the president and CEO of the Chicago Board of Trade Clearing Corp., took over on an interim basis.
The new chairman and CEO will take over after the CBOT has demutualized. Under the restructured CBOT, there will be no member-elected officials....
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