CHICAGO May 21 CME Group Inc
shareholders defeated a company-backed proposal to trim its
massive board by halving the number of directors representing
Chicago Mercantile Exchange users, Executive Chairman Terry
Duffy said on Wednesday.
Duffy, speaking at CME's annual meeting in Chicago, said he
would like to revive the proposal in some form in the future.
CME, the world's largest futures market operator, had
proposed cutting three of the six board members who represent
Chicago Mercantile Exchange users to help the company reduce
what is the largest board among companies that make up the
Standard & Poor's 500 Index.
The board is set to drop to 24 directors from 29 this year,
still topping the next-largest board at BlackRock Inc by
five members, according to Institutional Shareholder Services.
(Editing by Lisa Shumaker)