Chicago-based options exchange CBOE Holdings says its CEO, William Brodsky, plans to step down next year.
The firm says that Brodsky plans to step down as CEO following its annual meeting in May 2013, and will become executive chairman of the board. Current CBOE president and chief operating officer, Edward Tilly, has been tapped as his replacement. And, Edward Provost, chief business development officer, will succeed Tilly as CBOE president and COO.
Brodsky applauded Tilly’s appointment as his successor, noting that he has helped drive major initiatives at CBOE over the years, including its demutualization.
“The change in leadership at CBOE speaks to the depth of CBOE’s management, and is a natural progression in CBOE’s evolution,” said CBOE lead director, James Boris.