NEW YORK — Donna Redel became the first woman to head a U.S. futures exchange when she beat an independent floor trader Tuesday in a runoff election at Commodity Exchange Inc. (Comex).
Redel, executive vice president of Redel Trading Co., defeated Sidney Rothberg. She will succeed Martin B. Greenberg and will serve a two-year term.
In the first round of voting March 3, Redel and Rothberg were the two highest vote-getters among four candidates. Because no one candidate won more than 50% of that vote, a runoff had to be held.
Redel, a member of Comex since 1980, became the first woman to serve on the board of governors in 1989. She has also been an investment banker and a reporter for the Wall Street Journal.
"I am anxious to begin working on those projects which I have identified as our highest priorities," Redel said. "Specifically, new products are essential for our success, existing products must be brought to their full potential, and the costs of doing business must be reduced for members and their customers," she said.