Deutsche Börse CEO Reto Francioni will step down after the company’s annual general meeting on 15 May 2015.
After 17 years on the executive board, 10 of them as CEO, Francioni worked with the supervisory board and committees to select Carsten Kengeter as his successor.
Kengeter will sit on the executive board from April, and take over in full from 1 June 2015.
Joachim Faber, chairman of the supervisory board, said: “Deutsche Börse AG is very much indebted to Francioni. Not only has he led Deutsche Börse AG safely through difficult times, he has also steered the company on the road to success and has always given new and important impulses.”
“Not least, he opened many promising doors to new business areas and new markets, especially in Asia. He rightly enjoys a very high reputation both inside and outside the industry.”
Francioni said: "Everything must come to an end, even if it's not easy for me to take this step. But I am convinced that it is right, and that it is a good time to do so.”
He added: “This company and its employees are something very special."
Carsten Kengeter was managing director and partner at Goldman Sachs until 2005, and co-head of Asian trading business until 2008. He then moved to UBS, where he took over fixed income, currencies and commodities before becoming chairman and CEO of UBS Investment Bank.
Since mid-2013, he has been a visiting professor at the London School of Economics finance department, the Financial Markets Group and the Systemic Risk Centre.
He said: “I am delighted to lead Deutsche Börse into its next phase of expansion. Francioni and the executive committee along with the workforce have created a strong basis for the future.”
“I am convinced that we will be able to manage the enormous and, to a certain extent, fundamental changes in capital markets and exchange organisations. We will continue to successfully and globally develop Deutsche Börse.”
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