Bats CEO Cedes Chairman Role as Board Said to Delay IPO
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Directors at Bats Global Markets Inc. won’t consider redoing the exchange operator’s initial public offering for at least a quarter, according to a person with direct knowledge of the matter.
The decision was made during a board meeting yesterday, according to the person, who declined to be identified because the talks were private. Bats said in a statement that Chief Executive Officer Joe Ratterman will give up his chairman role after the company withdrew the IPO on March 23 because its computers couldn’t get the shares trading.