The New York Stock Exchange President Thomas Farley is stepping down, The Wall Street Journal reported. It has appointed COO Stacey Cunningham as its first female president, effective May 25, parent company Intercontinental Exchange Inc. told the publication.
John Tuttle, the head of listings at NYSE, is succeeding Cunningham as COO.
Farley is leaving the exchange to lead a special purpose acquisition company, called Far Point, backed by activist hedge fund Third Point LLC, the WSJ reported, citing "people familiar with the situation."
