On Thursday, the IntercontinentalExchange Group (NYSE: ICE) announced that Duncan Niederauer, CEO of NYSE Group and Co-President of ICE, has accelerated his departure but will continue as President of ICE and contribute to the companies? integration through August 2014.
From 2007 through late last year, Niederauer served as CEO of?NYSE?Euronext?when the acquisition by ICE was completed. Thomas W. Farley, NYSE COO and former ICE Futures U.S. President, will succeed Niederauer and assume the title of President of NYSE Group, effective immediately.
Niederauer said of the news, ?It has been a privilege to lead this great, iconic organization, and I am very proud of all that we accomplished during my time at NYSE Euronext. Thanks to the extraordinary dedication and commitment of my colleagues, we strengthened the NYSE?s role as world?s premier venue for raising capital, and ensured that the NYSE is better positioned to compete in today?s complex and evolving global marketplace.?
He added, ?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.?
As CEO of NYSE Euronext, Niederauer transformed and grew the organization while navigating through the financial crisis, evolving market and regulatory conditions, and industry consolidation. During this time, NYSE also became the consistent leader in IPOs, including listings of technology IPOs and in 2006, it won only 15% of technology IPOs; in 2013, the NYSE won 54% of all technology IPOs.
Niederauer also successfully negotiated and completed NYSE Euronext?s acquisition of ICE.?
ICE Chairman and CEO Jeffrey C. Sprecher said, ?Duncan?s vision for advancing the NYSE saw the exchange through extraordinary change and positioned it for success on a global scale. And his ability to advance our team?s integration activities has put us well on track to achieving our stated operational and financial objectives as a combined company. On behalf of our Board, we are grateful for his leadership throughout this transition and we want to recognize his tireless efforts throughout his tenure.?