Deutsche Boerse CEO Kengeter to step down amid investigation

FAN Editor

The chief executive of Frankfurt stock exchange operator Deutsche Boerse has decided to step down amid an investigation of suspected insider trading.

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Deutsche Boerse said Carsten Kengeter told its supervisory board Thursday that he wants to leave the job Dec. 31 “in order to allow the company to focus its energy back onto clients, business and growth and to avoid further burdens caused by the ongoing investigation.”

The investigation involves purchases of the company’s own shares made by Kengeter on Dec. 14, 2015 as part of the company’s executive pay program. About two months later, Deutsche Boerse and the London Stock Exchange announced plans for a merger — plans that were later blocked by the European Union, but pushed up shares at the time.

Kengeter and the company denied wrongdoing.

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