Deutsche Boerse board discusses Plan B
Deutsche Boerse's supervisory board has discussed contingency plans in case CEO Carsten Kengeter has to step down amid an investigation over possible insider trading, German magazine WirtschaftsWoche reported on Wednesday.
Deputy CEO of Deutsche Boerse, Andreas Preuss and CFO Gregor Pottmeyer were the two names considered to possibly take the helm of the German exchange operator, WirtschaftsWoche reported. This follows an investigation into current CEO, Carsten Kengeter.
A spokesman for Deutsche Boerse declined to comment on the meeting. “As a rule, we don't discuss the agenda of topics of the supervisory board,” he said.
An internal newsletter seen by Reuters said that the insider trading probe, which dates back to the failed attempt to merge with London Stock Exchange, was weighing on staff morale.
“We can't recall that there has ever been such severe damage to reputation in the long history of our company,” said the newsletter, which was written by the company's works council.
“Conversations with colleagues show that this is not just extremely embarrassing, but is also resulting in great uncertainty and worry.” Kengeter and Deutsche Boerse have denied any wrongdoing in the purchase of shares the CEO made just months before the official merger talks were announced. – Nampa/Reuters
A spokesman for Deutsche Boerse declined to comment on the meeting. “As a rule, we don't discuss the agenda of topics of the supervisory board,” he said.
An internal newsletter seen by Reuters said that the insider trading probe, which dates back to the failed attempt to merge with London Stock Exchange, was weighing on staff morale.
“We can't recall that there has ever been such severe damage to reputation in the long history of our company,” said the newsletter, which was written by the company's works council.
“Conversations with colleagues show that this is not just extremely embarrassing, but is also resulting in great uncertainty and worry.” Kengeter and Deutsche Boerse have denied any wrongdoing in the purchase of shares the CEO made just months before the official merger talks were announced. – Nampa/Reuters
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