The NYSE shakes up top management with Lynn Martin replacing Stacey Cunningham as president
A trader during the Sweetgreen IPO in front of the New York Stock Exchange (NYSE) in New York on Thursday, November 18, 2021.
Michael Nagle | Bloomberg | Getty pictures
The New York Stock Exchange said Monday that it is shaking up the company’s management team with announcements of a new president and chairman.
Lynn Martin, currently president of the Intercontinental Exchange̵[ads1]7;s interest rate and data services business, has been named the next president of the NYSE, succeeding Stacey Cunningham.
Sharon Bowen, board member of ICE and NYSE, will be the next chairman of the NYSE. Bowen was a former commissioner of the Commodity Futures Trading Commission (CFTC).
Cunningham, the 67th president and second female stock exchange president ever, will join the board of the NYSE. Cunningham first joined the NYSE about nine years ago when ICE announced its $ 8.2 billion acquisition of NYSE Euronext.
“Stacey led the NYSE through an extraordinary era in which technology proved robust and trading systems thrive even in the most turbulent times,” said Jeff Sprecher, founder, chairman and CEO of the Intercontinental Exchange, in a statement. “She begins a new chapter with the Stock Exchange better and stronger for her tireless efforts, and with our deepest thanks.”
The NYSE is operated by the online trading group Intercontinental Exchange, which bought it in 2012.
The Intercontinental Exchange reported stronger-than-expected earnings and revenue for the third quarter. The share is up approx. 13% this year, but lags behind the broader market.
