CME Chairman and CEO Terrence Duffy Suffers Collapsed Lung

By Alexander Osipovich Features Dow Jones Newswires

CME Group Inc. Chairman and Chief Executive Officer Terrence A. Duffy has suffered a collapsed lung and is recuperating at home, the company said.

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Mr. Duffy underwent a procedure on his lung late last week, a CME spokeswoman said in an email. He is "expected to make a full recovery returning to work in the next couple of weeks," she said.

The news emerged as the Chicago-based futures exchange operator held its annual shareholder meeting on Wednesday. CME is the world's largest exchange operator, with a market capitalization of $40 billion.

Mr. Duffy, 58 years old, has been a central figure in CME's transformation into an exchange giant over the past two decades. He first joined its board in 1995, when it was still a nonprofit, member-owned cooperative, and he became chairman in 2002, when CME converted itself into a publicly traded corporation.

CME announced in November that Mr. Duffy was assuming the CEO job following the surprise retirement of its previous CEO, Phupinder S. Gill.

Mr. Duffy helped drive CME's merger with its crosstown rival the Chicago Board of Trade, completed in 2007, and its acquisition of the New York Mercantile Exchange in 2008. He became a member of CME in 1981, starting his career in the hog futures trading pit.

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Write to Alexander Osipovich at alexander.osipovich@dowjones.com

(END) Dow Jones Newswires

May 24, 2017 13:44 ET (17:44 GMT)