Cboe Global Markets Chief Executive Officer Edward Tilly has resigned after failing to disclose personal relationships with colleagues, the exchange operator said on Tuesday. Board member Fredric Tomczyk has been named CEO, effective immediately, Cboe said. Tilly, who was Cboe's chief for more than 10 years, resigned following the conclusion of an investigation led by the board and outside independent counsel that was launched in late August, the company said. "The Board of Directors determined that Tilly did not disclose personal relationships with colleagues, which violated Cboe's policies and stands in stark contrast to the company's values," the statement said. Tomczyk, who joined Cboe's board in July 2019, has previously served as CEO of TD Ameritrade Holding Corp.

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Persons: Edward Tilly, Fredric Tomczyk, Cboe, Tilly, Tomczyk Organizations: Cboe Global Markets, Ameritrade Holding Corp