FRANKFURT (Reuters) – Deutsche Börse chief executive Theodor Weimer announced on Monday evening that he does not intend to seek another term, which should fuel speculation over the future leader of one of the Germany’s most valuable companies.
Theodor Weimer highlighted his age (64) and the importance for companies to remain “agile” to explain his desire to leave the German stock market operator when his mandate expires at the end of 2024.
“Companies always need new blood and new ideas, whether they are internal or external candidates,” he said at a press conference.
A former partner at Goldman Sachs, he joined Deutsche Börse in 2018, succeeding Carsten Kengeter then involved in an insider trading case.
At the start of the year, Deutsche Börse announced the acquisition for 3.9 billion euros of Danish SimCorp, which specializes in asset management software.
Theodor Weimer said billion-euro deals were unlikely to be completed in the next 18 months as the company sought to reduce debt.
(Tom Sims, with Alexander Huebner, Laetitia Volga, editing by Kate Entringer)
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