Chairman Wins in CBOT Vote

Karsten (Cash) Mahlmann was reelected chairman of the Chicago Board of Trade in a rare, spirited contest for the position, CBOT officials reported late Tuesday.

Mahlmann, a three-term incumbent, defeated former chairman Leslie Rosenthal by 630 votes to 524 and will guide the world’s largest futures exchange for another year.

The exchange’s 1,402 full members and 739 associate members--who get one-sixth of a vote--were eligible to cast their ballots throughout the business day.

William F. O’Connor, chairman of O’Connor & Co., was elected vice chairman, defeating Donald Andrew--685 to 458.

Mahlmann and Rosenthal have distinctly different styles, but both are suited for the job of leading the exchange out of a period marked by controversy.