Deutsche Börse CFO and COO quit

Deutsche Börse CFO and COO quit

Deutsche Börse CFO Mathias Hlubek and chief operating officer Matthias Ganz have quit the Exchange as the German stock market operator restructures operations after failing to find a merger partner.

In a statement, the Frankfurt-based exchange said: "The contracts of employment have been revoked amicably and in mutual agreement."

The move comes after Deutsche Börse's largest shareholder - hedge fund Atticus Capital - called on the Exchange to revamp its strategy in light of the consolidation sweeping the sector.

Reto Francioni, CEO of Deutsche Börse, will assume Hlubek's responsibilities on an interim basis, while other executive board members will take on Ganz's portfolio.

Matthias Ganz joined Deutsche Börse in 1993, rising to the position of COO and chief executive of Clearstream banking in 2003.

Mathias Hlubek has been with the Exchange for eight years. As CFO, he was also responsible for the corporate centre and for the market data & analytics area.

The Börse has been under pressure in recent weeks to restructure its business and spin off its clearing and settlement arms after failing to find a merger partner in the recent round of exchange consolidation.

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