Deutsche Boerse extends finance head's contract
Reuters
Published Mar 24, 2017 11:20
Updated Mar 24, 2017 11:30
Deutsche Boerse extends finance head's contract
FRANKFURT (Reuters) - German exchange operator Deutsche Boerse (DE:DB1Gn) has extended the contract of finance head Gregor Pottmeyer by five years until 2022, it said on Friday.
The move comes amid the company's failure to merge with the London Stock Exchange (L:LSE), which the European Commission is expected to shortly veto, after the companies declined to accede to its demands.
While keeping Pottmeyer on board provides stability needed to convince investors about an alternative strategy after the failed deal, Deutsche Boerse's board is expected to see some changes later this year.
The contract of Jeffrey Tessler, who heads the company's cash cow derivatives trading, clearing and settlement business, expires at year-end. The manager, aged 62, is not expected to seek an extension of his contract, people close to the company said.
The contract of Chief Executive Carsten Kengeter expires in March 2018, while that of his deputy Andreas Preuss runs until Mai 2018.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.