NYSE shakes up senior management with Lynn Martin replacing Stacey Cunningham as president
A trader during the Sweetgreen initial public offering (IPO) in front of the New York Stock Exchange (NYSE) in New York, on Thursday, Nov. 18, 2021.
Michael Nagle | Bloomberg | Getty Images
The New York Stock Exchange said Monday it is shaking up the company’s leadership team with announcements of a new president and chair.
Lynn Martin, currently president of Intercontinental Exchange‘s fixed income and data services business, has been appointed the next president of the NYSE, succeeding Stacey Cunningham. Martin is starting Jan. 3.
Sharon Bowen, an ICE and NYSE board member, will become the next chair of the NYSE. Bowen is a former commissioner of the Commodity Futures Trading Commission.
The NYSE is operated by the electronic trading group Intercontinental Exchange, which acquired it in 2012.
Cunningham, the 67th president and the second-ever female president of the exchange, will join the board of directors of the NYSE. Cunningham first came to 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 that saw its technology prove resilient and its trading systems thrive in even the most turbulent times,” Jeff Sprecher, founder, chairman and CEO of Intercontinental Exchange, said in a statement. “She begins a new chapter with the Exchange better and stronger for her tireless efforts, and with our deepest thanks.”
Intercontinental Exchange reported stronger-than-expected earnings and revenue for the third quarter. The stock is up about 13% this year, lagging the broader market, however.
— CNBC’s Bob Pisani contributed reporting.