RTS Realtime Systems Group (RTS), a leading global trading solutions provider, announced today that Engelbert Gemuenden is retiring as Chairman of the company's Executive Board, effective October 31.
He will assume a new worldwide non-executive, advisory role as Chairman of the firm's Supervisory Board. Steffen Gemuenden, Co-CEO of RTS, will become CEO and Chairman of the Executive Board upon his father's retirement.
Headquartered in Frankfurt, Germany, RTS relies on its Executive Board for day-to-day management of the company. The Supervisory Board advises the Executive Board on long-term strategy and direction. Prof. Dr. Joerg Franke, former CEO of Eurex, and Serge Demoliere, Executive Board member of LBB, Berlin, also serve on the RTS Supervisory Board.
Engelbert Gemuenden said: "It has been a great honor to help RTS grow into one of the leading providers of trading solutions in the world. We produce world-class, easy-to-use software, and I believe that our extensive technology offering is second to none. I am particularly proud that our privately held company has been profitable every year since its inception in 1992, and customer demand is stronger than ever. With Steffen at the helm, RTS is well equipped to meet the challenges of a rapidly changing landscape, and I look forward to making new contributions in an advisory capacity."
Said Steffen Gemuenden: "My father has been instrumental in the success of RTS and in the development of our core disciplines and competencies. We thank him for his contributions in building the company into one of the leading global financial organizations and know that his valuable experience and ideas will continue to enhance our strategic direction."