On Thursday, the CME Group announced its board of directors candidates to be elected at its May 21, 2014?annual meeting. This includes?eighteen individual nominees to be voted on by?Class A and Class B shareholders voting.
The list includes the following:?
- Terrence A. Duffy, 55,? Executive Chairman and President, CME Group
- Phupinder S. Gill, 53, Chief Executive Officer, CME Group
- Timothy S. Bitsberger, 54, Managing Director, Official Institutions FIG Coverage Group of BNP PNA
- Charles P. Carey, 60, Former Vice Chairman, CME Group; Principal of Henning & Carey Trading Company and Henning-Carey Proprietary Trading LLC
- Dennis H. Chookaszian, 70, Former Chairman, Financial Accounting Standards Advisory Council; Former Chairman and Chief Executive Officer, CNA Insurance Companies
- Martin J. Gepsman, 61, Independent Broker and Trader
- Larry G. Gerdes, 65, General Partner of Sand Hill Financial Company and Gerdes Huff Investments
- Daniel R. Glickman, 69, Executive Director,?Aspen Institute’s?Congressional Program; Senior Fellow, Bipartisan Policy Center, U.S. Secretary of Agriculture (1995-2001); Member of Congress,?Kansas?(1977-1995)
- J. Dennis Hastert, 72, Former Speaker of the House of Representatives
- Leo Melamed, 81, Chairman Emeritus, CME Group; Chairman and Chief Executive Officer, Melamed and Associates, Inc.
- William P. Miller II, 58, Head of Asset Allocation, Sanabil
- James E. Oliff, 66, President,?FILO Corp.
- Edemir Pinto, 60, Chief Executive Officer, BM&FBOVESPA
- Alex J. Pollock, 71, Resident Fellow, American Enterprise Institute; former President and Chief Executive Officer of Federal Home Loan Bank ofChicago
- John F. Sandner, 72, Retired Chairman of the Board, CME Group; former Chairman, E*Trade Futures, LLC
- Terry L. Savage, 69, Financial Journalist and Author, President, Terry Savage Productions, Ltd.
- William R. Shepard, 67, President and Founder, Shepard International, Inc.
- Dennis A. Suskind, 71, Retired Partner, Goldman Sachs & Co.
As noted by Lynn Marek of Crain’s, CME has one of the largest number of board members for a publicly traded company and while it has been cut by 17 percent in 2014,?it will still sit in the No. 1 spot for board size.
Add in the three directors to be elected by Class B-1 share holders, the two directors by holders of?B-2 shares and one director by?Class B-3 shares, well you have 24 directors to be re-elected in May while 29 currently serve.?
Marek further points out that an?average board size for Standard & Poor’s 500 Index companies sits at 11 directors, as noted by Institutional Shareholder Services. And coming in behind CME, the large futures exchange company worldwide, is a company that has 19 board members.?
Here at The Options Insider, we addressed this news today in our?Options News Rundown, “CME to Cut its Board of Directors” right here.?