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Carsten Kengeter to Step Down as CEO of Deutsche Börse
Traders Magazine Online News, October 27, 2017
Carsten Kengeter informed the Supervisory Board of Deutsche Börse AG (DBAG) that he would like to step down as Chief Executive Officer of DBAG effective 31 December 2017 in order to allow the company to focus on business, clients and growth, and to avoid further burdens caused by the ongoing investigation.
Carsten Kengeter said: “This decision was not easy for me since I feel very closely connected to Deutsche Börse and I still have many plans for the company. In the light of the public accusations and allegations, I am taking this step to protect Deutsche Börse in particular. I will thoroughly cooperate with the authorities until the end of the investigation. With this decision, I am paving the way for a new beginning for Deutsche Börse. Until the end of the year, I will contribute to an orderly transition. I would like to thank the Supervisory Board and the employees for the trust they have expressed in me.”
With deep regret, the Supervisory Board accepted this request and unanimously thanked Carsten Kengeter for his vision and leadership in driving DBAG’s transformation since 2015.
Joachim Faber, chairman of the Supervisory Board of Deutsche Börse, said: “I very much regret Carsten Kengeter’s decision, but I also have great respect for it. Since taking office, Carsten Kengeter has achieved a lot for Deutsche Börse. This is why I would like to thank him sincerely for his contributions and wish him all the best for his future. The Supervisory Board today acknowledged and broadly discussed Carsten Kengeter’s decision. We understand that the decision he took in the light of the difficult situation was in the best interest of the company. Nevertheless, the Supervisory Board regrets losing in Carsten Kengeter a CEO who laid the foundation for a successful future of Deutsche Börse in a significant way. Deutsche Börse is much better positioned now than it was prior to the beginning of his tenure. We very much appreciate that Carsten Kengeter remains committed to leading the company through its transition period.”
The details of the transition will be announced in due course as decisions are made.
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