- After 38 years in the position
- Praise, thanks and good wishes for Dean
- Dean made a lengthy statement and said 68 words
(exechange) — Chicago, Illinois, November 07, 2017 — Alan Dean, finance chief of Cboe, hands over the reins. It is a change at short notice. As announced by Cboe Global Markets, Inc. in a news release and in a regulatory filing published on Tuesday, November 07, 2017, Alan J. Dean leaves the post as Chief Financial Officer at the exchange operator after 38 years in the position, effective December 31, 2017.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.5 years, according to data compiled by exechange. Only 5 percent of the CFOs who departed over the past twelve months left the position after more than 15 years.
Dean’s duties are taken over by Brian Schell, currently Deputy Chief Financial Officer at Cboe Global Markets, Inc.
“A great time for me to make this change”
Dean’s imminent departure from the post of CFO is explained as follows. Dean said: “This is a great time for me to make this change. 2017 has been a transformational year for Cboe Global Markets and I am leaving knowing that the company is well-positioned to deliver on its strategic initiatives.”
Precise information about the future plans of Dean was not immediately available.
Cboe said: “Cboe Global Markets, Inc. … today announced the planned retirement of its Executive Vice President, Chief Financial Officer (CFO) and Treasurer, Alan Dean, at the end of December 31, 2017, after 38 years of service to the company.”
Share price rise since September 2010
The change follows a rise in the share price of Cboe Global Markets, Inc. since September 2010.
Chaired by Edward Tilly
Cboe Global Markets, Inc. is chaired by Edward Tilly.
In the position of CFO since 1979
Alan J. Dean has been the Chief Financial Officer of Cboe Holdings, Inc. since 1979.
Dean is the Company’s Executive Vice President, Chief Financial Officer and Treasurer.
He has served in that capacity since 1988 and has been employed at the Cboe in the financial area since 1979.
He is a CPA, and he holds a B.S. degree in Accounting from Western Illinois University and an M.B.A. from Northwestern University’s Kellogg Graduate School of Management.
Read the full story in the exechange report 46.2017 ($).