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Theodor Weimer named as new CEO of Deutsche Boerse

First Published 16th November 2017

Theodor Weimer, currently CEO at HypoVereinsbank UniCredit Bank, to take over from CEO Carsten Kengeter in January 2018. Contracts for Andreas Preuss and Jeffrey Tessler extended

In January, 57-year-old Theodor Weimer will take over from CEO Carsten Kengeter who leaves the company at the end of 2017. Weimer is currently spokesman of the Management Board of HypoVereinsbank - UniCredit Bank AG (Munich).

Weimar previously worked for the management consultants McKinsey and Bain, he then joined Goldman Sachs as Managing Director. In 2007, Weimer became Head of Global Investment Banking at UniCredit.

Carsten Kengeter had previously announced his intention to step down as Chief Executive Officer effective 31 December 2017. Shareholders representing 6% of Deutsche Börse's stock had claimed that his position had 'become untenable' due to accusations of insider trading regarding the now abandoned Deutsche Boerse move to merge with the London Stock Exchange Group

Mr Kengeter said at the time: "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."

Deutsche Börse has also extended the management contracts of Andreas Preuss and Jeffrey Tessler by one year. Andreas Preuss is Deputy CEO and responsible for IT, operations, the data business and the subsidiaries EEX and 360T. Jeffrey Tessler is responsible for clients, products and core markets. In this function, he leads Eurex and Clearstream - the two business segments with the highest revenues within the Group.

"By appointing Theodor Weimer and extending the contracts of Andreas Preuss and Jeffrey Tessler, it is possible to give the company new impetus on the one hand and ensure the necessary continuity in the work of the Executive Board on the other hand", commented Joachim Faber, Chairman of the Supervisory Board.