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NYSE Group appoints first female president in its history

Stacey Cunningham

Stacey Cunningham was named president of NYSE Group, effective Friday, the exchange announced Tuesday in a news release.

She will become the first woman to be president of the 226-year-old stock market.

Ms. Cunningham will replace Thomas Farley, who will become CEO of a special purpose acquisition company; NYSE did not identify the company.

Ms. Cunningham is chief operating officer at NYSE Group. Jon Tuttle, global head of listings, will replace Ms. Cunningham as COO on Friday, the release said.

"More than a half century after Muriel Siebert became the first woman to own a seat on the NYSE, Stacey represents a new generation of leadership for the NYSE Group," Jeffrey Sprecher, chairman and CEO of Intercontinental Exchange and chairman of NYSE Group and the New York Stock Exchange, said in the release.

Ms. Cunningham will become the second woman to lead a major U.S. stock exchange, joining Adena Friedman, the current CEO of Nasdaq.

An NYSE spokesman could not be immediately reached for further details.