Deutsche Boerse CEO to stay through 2016

Associated Press + More

FRANKFURT, Germany (AP) — German stock market operator Deutsche Boerse AG says it has given its chief executive another term at the helm of the company, only months after the European Union blocked his plans for a merger with NYSE Euronext.

The company said its supervisory board decided Tuesday that Reto Francioni will stay until October 2016. He has led the Frankfurt exchange operator since 2005.

Supervisory board chairman Joachim Faber said Francioni "provided strong leadership in the past few years, which were not always easy, in what was at times a rocky environment."

The proposed $10 billion NYSE Euronext deal would have created the world's largest exchange operator, but Brussels worried it would control most trading in European derivatives.

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