KANSAS CITY, MISSOURI, U.S. — The Kansas City Board of Trade (KCBT) announced on Jan. 24 the election of two public directors and the 2012 officers and directors.
Elected public directors include Michael V. Dunn and James Lammle. Four public directors sit on the exchange's board, along with seven members, three of which are executive officers.
KCBT members elected Steven K. Campbell, vice-president and director North America Wheat Trading, Louis Dreyfus Commodities, LLC as chairman in an election held earlier this month. Campbell served as first vice-chairman of the KCBT in 2011 and as second vice-chairman in 2010. The first vice-chairman traditionally has assumed the chairmanship of the KCBT in the following year.
Public directors for 2012 include: Michael Braude, past president and chief executive officer of the KCBT; Michael V. Dunn, former commissioner, Commodity Futures Trading Commission (CFTC); Barry L. Flinchbaugh, professor, agricultural economics, Kansas State University; and James Lammle, retired from the CFTC.
Dunn has been appointed to a two-year term. In 2011, Dunn was inducted into the Futures Industry Association's (FIA) "Futures Hall of Fame", which was established by the FIA to commemorate outstanding contributions to the global futures and options community. Dunn served two terms as a commissioner of the CFTC. Prior to joining the CFTC, Dunn served as director of the office of policy and analysis at the Farm Credit Administration (FCA). He also served as Under Secretary of Agriculture for Marketing and Regulatory Programs, Acting Under Secretary for Rural Economic and Community Development, and as Administrator of the Farmers Home Administration (FmHA) at the U.S. Department of Agriculture (USDA).
Lammle, who has been appointed to a new two-year term, joined the KCBT board of directors in 2008. He has had a life-long association with agri-business. In 1974, he began his career as a market analysis economist with the Commodity Exchange Authority, which was the predecessor agency to the CFTC, the current U.S. futures market regulatory agency. He transferred to the CFTC in 1975. As a market analysis economist, Lammle reviewed new contract proposals and rule changes for compliance with regulations. He transferred to the Kansas City Office of the CFTC, where he assumed responsibility for market surveillance of the contracts traded on the KCBT and MGE. In addition to his market surveillance activities, Lammle provided market analysis for the CFTC Division of Enforcement and the FBI in commodity-related cases. Lammle retired from the CFTC in April of 2006.
Campbell first became a KCBT member in 1992. He remained a member until 1994 and again became a member in 2006. He served as an exchange director from 2007 to 2008. He succeeds Michael P. Simmons as chairman of the exchange.
James S. Bosley, Jr. has automatically advanced from the post of second vice-chairman in 2011 to first vice-chairman in 2012.
Matthew A. Siegel, Matthew A. Siegel & Co. Inc., has been elected as second vice-chairman. Siegel became a KCBT member in 1984 and purchased his own membership in 1986.
The exchange also elected the following members to two-year terms on the board of directors: John P. Crowe, John P. Crowe & Company; and Daniel L. Gibson, Wolcott & Lincoln Futures, LLC.
They join the following directors serving the second year of two-year terms: R. Morgan Shay III, Shay Grain Company, and Richard W. Tinberg, individual member.