S&P Global announced today that its Board of Directors has unanimously elected Martina Cheung, S&P Global’s current President of S&P Global Ratings, to succeed Douglas Peterson as the company’s President and Chief Executive Officer, effective November 1, 2024. Cheung has also been appointed a member of the Board, effective July 1, 2024. Peterson will remain on the Board until May 2025 and be a special advisor to the company until December 31, 2025.
Cheung has held multiple leadership roles in her 14 years at S&P Global. She currently leads S&P Global Ratings, which realized $3.3 billion in annual revenue for 2023, a 9% increase over the prior year, with a 56.5% full-year operating profit margin.
Under her leadership, S&P Global Sustainable had a revenue growth of 24% in 2023. Before her current role, Cheung led S&P Global Market Intelligence, during which time the division exceeded $2 billion in annual revenue. And she also served as S&P Global’s Chief Strategy Officer, responsible for developing the company’s growth and innovation investment priorities. Plus, she was Head of Risk Services in S&P Global Market Intelligence, helping clients navigate the complex credit and risk landscape, and grew the business at a compound annual growth rate of more than 9%. Cheung was instrumental in S&P Global’s most significant mergers and acquisitions, including the IHS Markit merger in 2022 and the SNL Financial acquisition in 2015.
Joining in 2011 and serving as CEO since 2013, Peterson has been integral to building the company S&P Global is today and has overseen transformational growth. During his tenure as CEO, the company generated exceptional performance, with revenue growing from $4.45 billion to $12.50 billion, adjusted diluted earnings per share increasing from $2.75 to $12.60, return of capital to shareholders in the form of dividends and share repurchases totaling more than $30 billion, and the company’s market cap increasing from $16 billion to over $135 billion. Peterson oversaw important inorganic growth at the company, culminating in its landmark acquisition of IHS Markit.
Yann Le Pallec, Executive Managing Director and Head of Global Ratings Services at S&P Global Ratings, has been appointed to succeed Cheung as President of S&P Global Ratings, effective November 1, 2024. The company’s full-year financial guidance is unchanged.
KEY QUOTES:
“On behalf of our entire Board, I am delighted to have a leader of Martina’s exceptional caliber become S&P Global’s next President and CEO. As a long-standing member of the Executive Committee, Martina has had a profound impact on the evolution and growth of S&P Global. She is a tremendous leader with deep operational expertise and unparalleled knowledge of our business and the entire industry.”
“The Board and I have had a robust succession process in place for many years, and now is the ideal time for this transition. With strong footholds in strategic growth areas spanning private markets, sustainability, and the energy transition, as well as leadership in artificial intelligence, we are optimally positioned for the long term. The privilege of leading S&P Global for the past 11 years has been the highlight of my career. Martina has been critical to so much of this success, and I am excited to support her as she leads us into the next phase of growth and innovation.”
- Douglas Peterson
“The selection of the CEO and ensuring a smooth and successful transition is one of the Board’s most important responsibilities. The Board conducted a thorough and thoughtful process to identify the best leader for S&P Global’s next chapter, and it is a strong testament to our leadership team’s strength and capabilities that we have the ideal candidate in Martina. We have the utmost confidence in her as she steps into the President and CEO position, and we look forward to working alongside her to deliver continued results and value for our customers, employees, and shareholders.”
- William D. Green, Chair of the Board’s Nominating and Corporate Governance Committee
“Doug is a visionary leader who led the Company through significant growth and success. We are very grateful for the indelible mark he has made. During his time as President and CEO, Doug led the evolution of our Company from a diversified publishing holding company to a focused, markets-oriented information services company. Anticipating the most important trends in financial markets, he invested in fast-growing areas, such as financial and sustainability data and benchmarks, artificial intelligence, technology, and global capabilities, while divesting slower growing, non-core businesses, creating incredible shareholder value. Doug’s legacy is truly admirable.”
- Richard Thornburgh, Non-Executive Chairman of the Board
“I am honored to be named S&P Global’s next President and CEO and proud to guide our business and our extraordinary people across the globe. Doug’s vision and leadership transformed S&P Global into the remarkable company it is today. Doug has been an incredible leader for S&P Global and a mentor to me personally. His legacy will be felt for years to come. I’m glad we will continue working closely together on a seamless transition for our shareholders, our customers, our people, and the markets we serve.”
- Martina Cheung
