CBOE elects 11 directors

The Chicago Board Options Exchange (CBOE) has elected 11 directors to serve staggered terms on its 23-person board of directors. The terms of the newly elected directors will start when the board holds its first meeting in January 2002.

John Smollen, a director of Spear Leeds & Kellogg, a Goldman Sachs risk arbitrage desk that will cease trading on November 30, and incumbent candidate Alvin Wilkinson, a CBOE and Chicago Board of Trade member, were elected as floor directors. Daniel Koutris, a managing member of KFT DPM, part of Chicago-based options firm Letco, was re-elected as an at-large director. All three will serve three-year terms.

Meanwhile, five candidates will serve as off-floor directors. Richard Lynch, director of equity and international trading for Prudential Securities, and Thomas Petrone, managing director of global equity derivatives at Salomon Smith Barney, were newly elected to serve three- and two-year terms, respectively. James MacGilvray, executive vice-president and director of the transaction services division at UBS PaineWebber, was re-elected to a three-year term. David Lund, managing director and co-head of global equity-linked products, Merrill Lynch, was re-elected to a two-year term, while Anthony McCormick, vice-president of derivatives markets for Charles Schwab, was re-elected to a one-year term on the board.

Robert Rosholt, executive vice-president at Aon Corporation, was elected to a three-year term as a public director. Re-elected to three-year terms as public directors were Roderick Palmore, senior vice-president, Sara Lee Corporation, and R Eden Martin, a partner at law firm Sidley Austin Brown & Wood.