The Chicago Options Exchange Global Markets Corporation has hired Craig Donohue, the former leader of its rival, as chief executive. The Chicago Board Options Exchange is one of the largest derivatives exchanges. On Thursday, the company issued a statement saying Donoghue will replace Frederick Tomzic, who has been the company's interim leader. Donoghue will join the board of directors on May 7 to take over as CEO. As a veteran of the derivatives industry, Donoghue served as CEO of CME for 20 years until stepping down in 2012. He later became the CEO and chairman of Options Clearing, the largest stock derivatives clearing agency.

The Chicago Options Exchange Global Markets Corporation has hired Craig Donohue, the former leader of its rival, as chief executive. The Chicago Board Options Exchange is one of the largest derivatives exchanges. On Thursday, the company issued a statement saying Donoghue will replace Frederick Tomzic, who has been the company's interim leader. Donoghue will join the board of directors on May 7 to take over as CEO. As a veteran of the derivatives industry, Donoghue served as CEO of CME for 20 years until stepping down in 2012. He later became the CEO and chairman of Options Clearing, the largest stock derivatives clearing agency.