Yann Le Pallec has been appointed President of S&P Global Ratings, the rating agency arm of S&P Global, succeeding Martina L. Cheung, effective November 1, 2024.
In his new role, Le Pallec will have ultimate responsibility for all aspects of the business, including commercial, analytical, control, and operations functions.
The executive has been with the company since 1999 and has held several diverse roles of increasing responsibility within S&P Global Ratings, developing deep expertise in credit markets, as well as experience in change management and talent development.
He currently serves as Executive Managing Director and Head of Global Ratings Services of S&P Global Ratings. In this role, he leads a group of over 2,200 analysts and support staff across 28 countries,
His team covers more than one million outstanding ratings on entities and securities across various sectors, including governments, corporations, and financial institutions.
Douglas L. Peterson, current President and CEO of S&P Global, stated: “We couldn’t be happier with Yann’s appointment as the future head of our Ratings business.
“I had the privilege of working closely with Yann during my time as President of the division, when he oversaw analytics for Europe, the Middle East and Africa. Yann is a great leader and an exceptional person, and I am excited to see the great things he will accomplish for the division and for S&P Global.”
Le Pallec commented: “I am thrilled to have the opportunity to step into this new leadership position. It has been a privilege to work with the phenomenal teams in S&P Global Ratings, and I have strong conviction in our continued success, as we capture our growth opportunities and build on the analytical excellence and transparency that are synonymous with our ratings agency. I am eager to begin this next chapter in my career alongside such valued and respected colleagues.”
Following her role as Executive Managing Director and Head of Global Ratings Services of S&P Global Ratings, Cheung will take over the role of President and Chief Executive Officer of S&P Global, also effective November 1, 2024.
Commenting on Le Pallec’s appointment she said: “Yann is a veteran of the S&P Global Ratings team and an expert on our business and the industry. He is deeply committed to safeguarding the analytical integrity, independence, and excellence that sets our ratings business apart, and the thought leadership the markets seek from us around the world. I am confident that the business will continue to thrive under his leadership, and I look forward to partnering closely with him through this transition.”
Additionally, Cheung has been appointed as a member of the Board, effective July 1, 2024. She is succeed Douglas L. Peterson who will remain on the Board until May 2025 and be a special advisor to the Company until December 31, 2025.
“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,” said Mr. Peterson. “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.”
Cheung has been part of S&P Global for 14 years, and has held multiple leadership roles ever since. She currently leads S&P Global Ratings, which realised $3.3 billion in annual revenue for 2023, a 9% increase over the prior year, with 56.5% full-year operating profit margin.
The executive has also previously led S&P Global Market Intelligence, served as S&P Global’s Chief Strategy Officer, and was Head of Risk Services in S&P Global Market Intelligence.
Commenting on her appointment, Cheung said: “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.”
