Intercontinental Exchange, Inc. (NYSE:ICE) announced Stacey Cunningham will become the first female President in the 226-year history of the New York Stock Exchange. Ms. Cunningham, the current Chief Operating Officer who began her career as a floor clerk on the NYSE trading floor in 1996, will succeed Thomas Farley as the 67th President of the NYSE Group.
“As our COO, Stacey Cunningham successfully managed our equities, equities derivatives and ETF businesses, distinguishing herself as a customer-focused leader who is respected across our industry,” said Jeff Sprecher, Chairman and CEO of Intercontinental Exchange and Chairman of NYSE Group and the New York Stock Exchange. “More than a half century after Muriel Siebert became the first woman to own a seat on the NYSE, Stacey represents a new generation of leadership for the NYSE Group.”
“I’m confident that Stacey, who started as a summer intern on the NYSE floor in 1994, will continue to propel this vital institution forward. Stacey and our team are steadfastly committed to ensuring that the U.S. remains the center of world’s capital markets.”
John Tuttle, who currently serves as NYSE’s Global Head of Listings, will replace Ms. Cunningham as Chief Operating Officer of NYSE Group. Mr. Tuttle, who joined the NYSE in 2007, will lead NYSE’s Global Listings, Capital Markets, and Exchange Traded Products businesses.
“John Tuttle’s track record at the NYSE over the past decade has helped drive continuous growth for our business since he joined the Exchange,” said Sprecher. “John drives results, clearly demonstrated by the resurgence of our IPO leadership, his strong relationships, and his record of delivering on the NYSE’s commitments. By centralizing our corporate listings and exchange-traded products under John, we will enhance the NYSE issuer network and provide an unparalleled level of service for our community.”
Thomas Farley joined ICE in 2007 as President and COO of ICE Futures U.S., formerly the New York Board of Trade, and joined the NYSE in 2013 when ICE acquired NYSE Euronext. He leaves the NYSE with an impressive track record of continuous growth and headline-making IPOs as President of the NYSE Group. When he leaves the Exchange, Farley will become the chief executive officer of a special purpose acquisition company.
“I have had the honor of standing at the NYSE Bell Podium with hundreds of inspiring entrepreneurs during my years as the NYSE’s President and I am now thrilled to join their ranks by building on an idea and starting something from scratch,” Mr. Farley said. “With enormous gratitude to Jeff for the tremendous opportunity he has given me to lead the NYSE and work with our customers and management team, I am eager to build a new company and to watch with pride as Stacey, John, and this world-class management team takes the NYSE to new heights.”
The promotions of Cunningham and Tuttle are effective as of May 25.
“Tom Farley’s contribution to our growth has been extraordinary, having transformed and integrated our exchange acquisitions in New York, including the NYSE and New York Board of Trade,” Mr. Sprecher added. “Tom is a valued colleague, leader and confidant, and our management team looks forward to supporting him in his new venture. Having partnered with Tom to build an exceptional NYSE team, advance our listings leadership, and rebuild our technology systems, I’m extremely confident that Stacey and John will continue to grow the NYSE as the world’s leading equity marketplace.”