Cboe Global Markets' Chairman & CEO Edward Tilly Resigns Over Personal Relationships With Colleagues

Cboe Global Markets, Inc. CBOE announces the appointment of Fredric J. Tomczyk as its CEO, replacing Edward T. Tilly, who resigned amid policy violation.

Tomczyk joined Cboe's Board of Directors in July 2019; before that, he served as President and CEO of TD Ameritrade Holding Corporation from October 2008 through October 2016.

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William M. Farrow, III, currently Lead Director of Cboe, has been named non-executive Chairman of the Board of Directors, effective immediately.

The Board of Directors discovered that Tilly's failure to disclose personal connections with colleagues violated Cboe's policies and values. The company stated that this misconduct has no bearing on the company's strategy, financial performance, technology and market operations, reporting, or internal controls.

Also Read: Oil Giant BP's CEO Resigns Amid Investigation On Personal Conduct

Price Action: CBOE shares are trading higher by 2.57% at $155.60 on the last check Tuesday.