CME Group renews contracts of top two executives

Wed Feb 5, 2014 6:56pm EST

Feb 5 (Reuters) - CME Group Inc, the biggest operator of U.S. futures exchanges, on Wednesday extended the contracts of its top two executives, Terry Duffy and Phupinder Gill.

Duffy, 55, will now remain the Chicago-based company's executive chairman and president through the end of 2017, CME Group said in a statement. His prior contract was due to expire at the end of 2015.

Gill, 53, will retain his post as the company's chief executive officer through the end of 2016, the company said. His prior contract ran through the end of this year.

No details on compensation were immediately available.

CME Group, which runs the Chicago Mercantile Exchange and the New York Mercantile Exchange among others, competes with IntercontinentalExchange Group Inc, which recently boosted its international profile with the acquisition of NYSE Euronext.

CME is planning to launch its first overseas exchange in London this year.

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