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Chairman Changes At Comex

July 14, 1989

NEW YORK (AP) _ John H. Hanemann, the first member-elected chairman of the Commodity Exchange Inc., has resigned roughly a year after assuming the top position at the metals market, the exchange announced Friday.

Hanemann, who cited ″great demands″ on his personal time and finances as the reason for his resignation, will be replaced by Robert E. Fink, first vice chairman of the Comex board.

Fink, an independent floor trader, will serve as chairman until regularly scheduled board elections are held in March 1990.

Hanemann’s resignation comes two days after Arnold Staloff was appointed president and chief executive of the exchange. The announcement also comes a day after Rosemary McFadden resigned as president of the New York Mercantile Exchange. She had been the highest ranking woman in the futures industry.

A member of the exchange since 1970, Hanemann was elected chairman in the spring of 1988. During his tenure, he helped design and implement the exchange’s automated trading submission system.

A variety of futures and options are traded on Comex, the world’s most active metals market.

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