Commodities

Cboe Names Former CME Leader Craig Donohue as Next CEO

Craig Donohue in 2011.

Photographer: Chris Ratcliffe/Bloomberg

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Cboe Global Markets Inc. tapped its rival’s former leader, Craig Donohue, to become chief executive officer of one of the largest derivatives exchanges.

He will replace Fredric Tomczyk, who has been serving as interim leader of the Chicago-based company, it said in a statementBloomberg Terminal Thursday. Donohue will join the board and take over the chief role effective May 7.