German stock exchange operator Deutsche Boerse has initiated the search for a new CEO, with both internal and external candidates being considered, according to Chairman Martin Jetter. The current CEO, Theodor Weimer, announced in June that he would not seek another term when his contract ends next year, stating the need for “fresh blood” at the helm. Jetter assured that the search process is proceeding in an orderly manner and as planned, following the principles of good governance. The recruitment effort is being supported by headhunter firm Heads! International.
Weimer took over as CEO of Deutsche Boerse in 2018 and brought a period of relative stability to the company following a turbulent period. Under his leadership, the stock exchange operator attempted to merge with the London Stock Exchange but was unsuccessful. Weimer also pursued other deals during his tenure, such as the ongoing 3.9-billion euro takeover of SimCorp, a Danish investment management software company. Despite some failed attempts, Deutsche Boerse reported a 24% increase in profit last year as trading volumes and revenues were boosted by market volatility.
While Weimer has not announced his future plans, he expressed an interest in technology and a more international role that may not necessarily involve supervisory boards. His contract is set to expire at the end of 2024.