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CBOE Holdings, Inc. Announces Reorganization And Names New Officers

Date 08/02/2012

CBOE Holdings, Inc. (NASDAQ: CBOE) announced today an organizational realignment, including the consolidation of two major divisions, the creation of new areas of business development, and the appointment of new CBOE officers. The reorganization was designed to better align key business functions and operations with the company's evolving business and market models.

"We are fortunate to have deep in-house expertise to meet today's challenges and opportunities.   The reorganization maximizes the talents of a proven team.  The areas most impacted, including Business Development, Market Regulation and Systems, reflect our ongoing commitment to providing customer satisfaction, fair markets and shareholder value," said William J. Brodsky, CBOE Holdings Chairman and CEO.         

"Earning investor confidence and customer satisfaction is an exchange-wide commitment — from the efficiency of our systems, to the highest standards of market regulation, to the products and information we offer investors," said Edward T. Tilly, CBOE Holdings President and COO.   "Every individual at CBOE is committed to delivering the best in service at every point of customer contact.  Our realignment takes that strong suit to the next level by more closely coordinating every aspect of the customer's experience at CBOE."

Business Development

  • Edward Provost, Executive Vice President, was named Chief Business Development Officer.  He will oversee a greatly expanded Business Development Group. In addition to Institutional, Retail, International and Internet Marketing, Provost will lead trading operations and two new departments -- Business Analysis and Market Data Sales -- under the expanded Business Development Group umbrella.  Provost is a 37-year veteran of CBOE. He received his M.B.A. from the University of Chicago and is a graduate of Loyola University.
  • Eric Frait was named Vice President, Business Analysis.  In this newly created role, Frait will lead the new Business Analysis area for the company and will assume primary responsibility for strategy related to C2, the company's all-electronic exchange. Frait is a 16-year veteran of CBOE. He received his M.B.A. from Loyola University and is a graduate of University of Iowa.
  • Thomas Knorring was named Vice President, Market Data Sales. In this newly created role, Knorring will manage development and sales of CBOE's proprietary market data.  Knorring is a 34-year veteran of CBOE. He received his M.B.A. from Northwestern University and is a graduate of Northern Illinois University.
  • David Gray was named Vice President, Relationship Management, New York.  Gray is a 22-year veteran of CBOE.  He received his M.B.A. from the Lake Forest Graduate School of Management and is a graduate of Western Michigan University.
  • Paul Stephens was named Vice President, Marketing and Sales.  Stephens is a 16-year veteran of CBOE.  He received his M.B.A. from Loyola Universityand is a graduate of Southern Illinois University.     
  • Michael Trees was named Vice President, Trading Systems Development. Trees is an eight-year veteran of CBOE and a graduate of Gustavus Adolphus College.
  • Kerry Winters was named Vice President, Market Operations.  Winters is a 36-year veteran of CBOE.  She received her M.B.A. from DeVry Universityand is a graduate of Saint Xavier University.

Corporate Communications

  • Carol KennedyVice President of Corporate Communications, was named Chief Branding Officer.  In this newly expanded role, Kennedy will continue to lead CBOE's corporate, media and public relations areas and will also develop and administer CBOE's corporate branding and associated programs.  Kennedy is a 19-year veteran of CBOE and a graduate of Northwestern University.


  • Philip Slocum, Executive Vice President, was named Special Advisor to the Chairman.  Slocum is a 37-year veteran of CBOE.  He received his master's degree from George Williams College and is a graduate of Carthage College.
  • Maureen Smith was named Vice President, Corporate Project Management.  Smith is a 35-year veteran of CBOE and a graduate of Saint Xavier University.

Finance & Administration

  • Deborah Koopman was named Vice President, Investor Relations.   Koopman is a four-year veteran of CBOE. She received her M.B.A. from Lewis University and is a graduate of Southern Illinois University. 
  • David Reynolds was named Vice President and Chief Accounting Officer.   Reynolds is a three-year veteran of CBOE.  He received his M.B.A. and bachelor's degrees from Lehigh University.


  • Angelo Evangelou was named Associate General Counsel.  Evangelou is a 12-year veteran of CBOE. He received his J.D. from Boston University and is a graduate of the University of Michigan. 

Regulatory Services

  • Karen Christiansen was named Vice President, Regulatory Services.   Christiansen is a 12-year veteran of CBOE and a graduate of Purdue University.
  • Patricia Sizemore was named Vice President, Regulatory Services.  Sizemore is a 34-year veteran of CBOE and a graduate of Illinois State University.


  • William Speth was named Vice President, Research.  Speth is a 17-year veteran of CBOE.  He received his master's degree from the University of Rochester and is a graduate of LeMoyne College.


  • Paul Ciciora was named Vice President, Systems Infrastructure.   Ciciora is a 23-year veteran of CBOE and studied computer science at Loyola University.  
  • Todd Furney was named Vice President, Systems Security. Furney is an 11-year veteran of CBOE. He received both his master's and bachelor's degrees from Michigan State University.
  • Bradley Samuels was named Vice President, Systems Development.  Samuels is a 22-year veteran of CBOE and studied computer science at Aurora University.
  • Eileen Smith was named Vice President, Systems Planning.  Smith is a 25-year veteran of CBOE and a graduate of Albion College.
  • Michael Todd was named Vice President, Systems Operations. Todd is a 25-year veteran of CBOE and a graduate of the University of Illinois.

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM).CBOE's Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE's Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports C2 Options Exchange (C2), CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and, named "Best of the Web" for options information and education. CBOE is regulated by the Securities and Exchange Commission(SEC), with all trades cleared by the OCC.