BGC CEO Howard Lutnick nominated for U.S. Commerce Secretary, to step down upon Senate confirmation

BGC Group, Inc.

Chairman/CEO Howard Lutnick nominated by President Trump as U.S. Secretary of Commerce; will step down from BGC, Cantor, and Newmark upon confirmation.
Lutnick intends to recommend John Abularrage, Jean-Pierre Aubin, and Sean Windeatt as Co-CEOs of BGC effective upon his departure.
Lutnick will divest his interests in BGC, Cantor, and Newmark to comply with government ethics rules; no open market sale expected.
BGC expects no changes to its existing corporate structure; further details to be disclosed later.

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