ISI: CME Group's CEO Retiring

According to a research report published today by ISI, CME Group Inc.'s (NASDAQ: CME) CEO, Craig Donohue, is retiring, prompting the Boad to appoint President Phupinder Gill to CEO in December 2012 when Donohue's contract expires.

In the report, ISI said, “On a conference call, Mr. Donohue cited that he has been engaged with the Board on a dialogue regarding his contract for a while, but while the decision to leave was “bittersweet” and after 23 years at CME (and 8 as CEO) he is looking forward to exploring new directions professionally, as well as spending more time with his family in the interim. We do not anticipate any change in strategic direction.”

ISI maintains its Hold rating and $285 PT on CEM Group, which closed yesterday at $270.20.