- After almost three years in the position
- Praise, thanks, words of regret and good wishes for Kengeter
- No successor named
- Kengeter spoke at length and said 105 words
(exechange) — Frankfurt, Germany, October 26, 2017 — Carsten Kengeter, chief executive of Deutsche Börse, leaves. As announced by Deutsche Börse AG in an ad-hoc statement and in a news release on Thursday, October 26, 2017, Carsten Kengeter leaves the post as Chief Executive Officer at the German stock exchange after almost three years in the position, effective December 31, 2017.
No company wants a CEO to flame out in the first years.
Deutsche Börse did not name a replacement for the position of Chief Executive Officer.
“In order to allow the company to focus on business, clients and growth, and to avoid further burdens caused by the ongoing investigation”
The management change is explained as follows. Deutsche Börse said in a fairly blunt statement: “Carsten Kengeter today 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.”
Precise information about the future plans of Kengeter was not immediately available.
Share price rise since November 2016
The change follows a rise in the share price of Deutsche Börse AG since November 2016.
Chaired by Joachim Faber
Deutsche Börse AG is chaired by Joachim Faber.
Faber serves as Chairman of the Supervisory Board since 2012.
In the position of CEO since 2015
Carsten Kengeter has been a Member of Executive Board at Deutsche Börse AG since April 04, 2015 and has been its Head of the Management Board and Chief Executive Officer since June 1, 2015.
He served as the Chairman and Co-Chief Executive Officer of UBS Investment Bank at UBS AG since November 2010.
Carsten Kengeter will lead the Company in the interim, “and has the Supervisory Board’s full confidence”, Deutsche Börse said.
At the time of Kengeter’s appointment as Chief Executive Officer at Deutsche Börse, Joachim Faber, Chairman of the Supervisory Board, had stated: “We are certain that Mr Kengeter will lead the Exchange to new and, in particular, international perspectives.“
Read the full story in the exechange report 44.2017 ($).