OCC, the world's largest equity derivatives clearing organization, announced the election of two Class III Member Directors and two Class I Public Directors to its Board of Directors. In addition, Mr. Craig S. Donohue was re-elected as Executive Chairman of the Board. The vote took place during OCC’s annual stockholder meeting on April 29.
The following Directors were unanimously elected as Class III Member Directors for the term ending in 2025:
- Stuart M. Bourne, Managing Director, Global Head of Prime Services at Bank of America. Mr. Bourne joined the OCC Board of Directors in 2019.
- Kurt M. Eckert, Partner and Head of Market Structure at Wolverine Trading. Mr. Eckert joined the OCC Board of Directors in 2017.
The following Directors were unanimously elected as Class I Public Directors for the term ending in 2025:
- Susan E. Lester, Former Financial Executive. Ms. Lester joined the OCC Board of Directors in 2016. Ms. Lester will continue to Chair the Audit Committee.
- Mark F. Dehnert, Advisor. Mr. Dehnert joins the OCC Board of Directors as a Public Director for the first time. Mr. Dehnert was previously the Managing Director of Execution and Clearing for Goldman Sachs and has extensive experience in financial engineering, quantitative trading and modeling, and equity markets. Mr. Dehnert will assume the position of Chair of the Risk Committee.
"As we fulfill our mission to serve as the foundation for secure markets, we continue to greatly benefit from the counsel and leadership of these four industry experts,” said Craig Donohue, OCC Executive Chairman. “Together, we are committed to the ongoing improvement of OCC’s operations, services and offerings to ensure we continue to meet the needs of all market participants and work to move the industry forward.”
The Options Clearing Corporation (OCC), named Risk Magazine’s 2022 Clearing House of the Year, is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.