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Deutsche Boerse's CEO Quits Amid Insider Trading Probe

  • Kengeter to resign to avoid ‘burdens’ of insider-trading probe
  • Resignation comes as company lowers expectations for profits
Carsten Kengeter

Carsten Kengeter

Photographer: Alex Kraus/Bloomberg
Updated on

Deutsche Boerse AG Chief Executive Officer Carsten Kengeter resigned amid growing shareholder pressure after he became embroiled in an insider-trading probe. The company also said it isn’t likely to meet its full-year earnings targets.

The CEO will step down on Dec. 31 “in order to allow the company to focus its energy back onto clients, business and growth and to avoid further burdens caused by the ongoing investigation,” Deutsche Boerse said in a statement on Thursday. No replacement was named.