NYSE shakeup sees president Stacey Cunningham exit
Cunningham has led the exchange since 2018
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New York Stock Exchange President Stacey Cunningham will soon be stepping down as part of major leadership changes announced by the NYSE's parent company, Intercontinental Exchange, Inc.
In a press release Monday, ICE Founder and CEO Jeff Sprecher said Cunningham "is beginning a new chapter in her career" and will depart her current role at the end of the year, when she will join the NYSE's board of directors.
NEW YORK, NEW YORK - NOVEMBER 22: (EXCLUSIVE COVERAGE) New York Stock Exchange President Stacey Cunningham visits "Maria Bartiromo's Wall Street" at Fox Business Network Studios on November 22, 2019 in New York City. (Photo by Roy Rochlin/Getty Image (Photo by Roy Rochlin/Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ICE | INTERCONTINENTAL EXCHANGE INC. | 158.29 | -2.67 | -1.66% |
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Cunningham joined the NYSE nine years ago and became the first female president of the exchange in 2018. According to The Wall Street Journal, she "approached ICE's leadership several months ago about moving on with her career, a person familiar with the matter said."
"Stacey led the NYSE through an extraordinary era that saw its technology prove resilient and its trading systems thrive in even the most turbulent times," Sprecher wrote in a memo to employees. "She begins a new chapter with the Exchange better and stronger for her tireless efforts, and with our deepest thanks."
Stacey Cunningham, president of NYSE Group Inc., reacts during a Bloomberg Television interview on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 23, 2020. Photographer: Simon Dawson/Bloomberg via Getty Images (Photographer: Simon Dawson/Bloomberg via Getty Images)
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Lynn Martin, who is currently president of ICE's fixed income and data services, has been named as Cunningham's successor.
"Congratulations to my friend and colleague Lynn Martin, who’s been named the next president of @NYSE," Cunningham tweeted following the announcement. "The exchange’s future is bright and it could not be in better hands."
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Among other leadership changes announced by ICE, current ICE and NYSE board member Sharon Bowen will become the next NYSE chair, a role being relinquished by Sprecher.
Also, the current chief of capital markets at the NYSE, Amanda Hildlian, will replace Martin as president of ICE's fixed income and data services while Martin will stay on as chair.