FRANKFURT Nov 27 Deutsche Boerse
said on Tuesday it would combine its stocks and derivatives
divisions, which have been hit by lacklustre trading, under one
Rainer Riess, managing director with responsibility for the
cash market, will hand over responsibility to deputy chief
executive Andreas Preuss at end-2012, the stock exchange said in
Deutsche Boerse, the operator of the Xetra stock exchange
and Eurex derivatives market, was forced last month to abandon
its 2012 revenue and profit targets as lower market volatility
caused a slump in trading of stocks and derivatives.
Rainer Riess will leave the company effective 30 June 2013
by mutual consent to devote more time to pursue his personal
interests, Deutsche Boerse said.
Reto Francioni, CEO of Deutsche Boerse Group, said: "Rainer
Riess has been a driving force behind the development of
Deutsche Boerse Group's cash market businesses. We would like to
thank him for his tremendous commitment to the company."
Deutsche Boerse added that executive board member Frank
Gerstenschlaeger, has opted not to extend his contract when it
expires on 31 March 2013.
(Reporting By Edward Taylor; Editing by Sophie Walker)