Tilly is ineligible to receive a severance package exceeding $8.8 million, according to a securities filing.
Tilly’s resignation after an investigation—launched in late August—by the company’s board and independent counsel found Tilly did not disclose personal relationships with colleagues, which violated the company’s policies and “stands in stark contrast to the company’s values.”
Tilly, 60, is ineligible to receive an $8.8 million severance and an estimated $892,000 in additional benefits because of the investigation’s conclusions, according to aFredric Tomczyk—who served as president and CEO of TD Ameritrade from 2008 to 2016—was appointed as CEO, effective immediately. William Farrow succeeded Tilly as nonexecutive chairman and will remain the company’s lead director, the Chicago-based firm said.announced
last week that he would resign as chief executive, after an investigation found that Looney had failed to disclose personal relationships. Looney disclosed a “small number” of relationships with colleagues before becoming CEO, BP said, before later informing the company that he was “not fully transparent” in his previous disclosures. NBCUniversal CEO Jeff Shellfrom the company in April after he admitted to having an “inappropriate relationship with a woman in the company.
last February, after failing to disclose a relationship with his “closest colleague” that “evolved in recent years.”Tilly served as Cboe’s chief executive since 2013 and previously worked as a clerk on Cboe’s trading floor in 1987, according to the
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