Francioni to leave Deutsche Börse
Deutsche Börse CEO Reto Francioni will hand over his tasks to his successor, Carsten Kengeter, in 2015.
After 17 years on the executive board of Deutsche Börse, Francioni, who will turn 60 next August, will hand over his post after Deutsche Börse AG’s annual general meeting on May 13 2015, the supervisory board decided in its meeting today.
"I am convinced that this step is right, and that it is a good time to take it: Kengeter has been appointed as my successor, significant strategic decisions have been made, the strategic initiatives, especially in regard to the totally new and extremely tough competition of the recent years, are showing effect," said Francioni. "There is no better time to make this change."
The chairman of the supervisory board, Joachim Faber, and the respective committees have identified Kengeteran as a suitable successor in an extensive process.
We are very pleased that we were able to identify, in a concerted, discrete and diligent process, such an experienced and qualified successor for the longstanding CEO of Deutsche Börse as Kengeter," said Faber. "Kengeter will lead the Exchange to new and, in particular, international perspectives."
Kengeter is a German capital market expert and former chairman and CEO of UBS Investment Bank. He was previously a managing director and partner at Goldman Sachs where he was responsible for various areas within the department pensions, currencies and commodities for twelve years.
The current deputy CEO, Andreas Preuss, will extend his mandate until May 31 2018.
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