Summary
Intercontinental Exchange, Inc. (ICE) announced a significant leadership transition within its finance department. Scott A. Hill, the current Chief Financial Officer, plans to retire from his executive role effective May 15, 2021, after a long tenure. To ensure a smooth handover, Mr. Hill will transition to an Advisor role to the CEO and remain an employee until February 28, 2023, providing critical support and strategic guidance during this period. His compensation package through the transition includes continued base salary and bonus eligibility for 2021, followed by a nominal annual salary for the remainder of his employment, along with continued vesting of equity awards and benefits.
Key Highlights
- 1CFO Scott A. Hill to retire as Chief Financial Officer on May 15, 2021, after which he will serve as an Advisor to the CEO.
- 2Mr. Hill will remain an employee until February 28, 2023, to facilitate an orderly transition and provide advisory services.
- 3Mr. Hill will receive his current base salary through December 31, 2021, and be eligible for his 2021 bonus.
- 4Post-2021, Mr. Hill will receive a reduced annual base salary of $20,000 from January 1, 2022, to February 28, 2023.
- 5Mr. Hill will continue to vest in his existing equity awards and receive standard benefits throughout his employment period.
- 6Warren Gardiner, currently Vice President of Investor Relations, will succeed Mr. Hill as Chief Financial Officer effective May 15, 2021.
- 7The company has incorporated the details of the separation agreement and a press release into the 8-K filing.