CBOE Global Markets CEO Edward Tilly has stepped down after failing to disclose having personal relationships with colleagues, the company announced Tuesday.
Cboe Global Markets Chairman and CEO Ed Tilly discusses the options trading action as stock market volatility surges on ‘The Claman Countdown.’has resigned from the company after an investigation found he failed to disclose personal relationships with colleagues, the options exchange announced Tuesday.
His failure to disclose the relationships "violated Cboe's policies and stands in stark contrast to the company's values," Cboe said in a press release. Current Cboe board member and former TD Ameritrade President and CEO Fredric Tomczyk has replaced Tilly as chief executive effective immediately, and lead director William Farrow is now serving as non-executive chairman."Cboe strives to uphold the highest ethical standards across the organization and fully investigates and takes appropriate action when it determines that any of its policies have been violated," Farrow said in a statement.
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