Chairman emeritus Leo Melamed will retire from CME Group Inc.'s board of directors at the end of his current term in May.
Following his retirement, he will serve as a consultant to the company for the next two years. After that time, Melamed will keep his title of chairman emeritus.
He became chairman emeritus in 1997 and has been a board member since 1967. Melamed is recognized as the founder of financial futures and introduced the International Monetary Market in 1972.