CME loses its chief executive

Craig Donohue is to step down as chief executive of US futures exchange operator CME Group at the end of the year, handing over the reins to CME’s president Phupinder Gill, the company said yesterday. Chairman Terrence Duffy, who has been the face of the company as it navigates the fallout from the failure last October of giant broker MF Global, will take on the additional role of president. CME audited MF Global's books under the industry's self-regulatory system and came under fire over its handling of broker’s collapse.