Rainer Riess (46), Managing Director of Deutsche Börse AG and Deputy Chairman of the Board of Management of the Frankfurt Stock Exchange, will leave Deutsche Börse Group, effective 30 June 2013, having worked for the Group for 24 years.
He will hand over his responsibilities for the Group's cash market effective 31 December 2012. As announced previously, the Xetra division and derivatives business will be jointly managed by Deputy CEO Andreas Preuss (56) from 2013 onwards. Also as announced, Frank Gerstenschläger (52), the Executive Board member responsible for Deutsche Börse's cash market, has opted not to extend his contract when it expires on 31 March 2013.
Rainer Riess leaves the company in best mutual consent in order to devote more time to pursue his personal interests.
Dr Reto Francioni, CEO of Deutsche Börse Group, said: "Rainer Riess has been a driving force behind the development of Deutsche Börse Group's cash market businesses. We would like to thank him for his tremendous commitment to the company."