The chief executive of the London Stock Exchange Group (LSEG) will step down if the potential merger with Deutsche Boerse goes ahead.
Carsten Kengeter, CEO of Deutsche Boerse and former UBS investment bank head, will lead the joint company once a deal is completed.
In addition Donald Brydon, current chairman of LSEG, will take the role as chairman of the combined group, and Joachim Faber, chairman of Deutsche Boerse, will become deputy chairman and senior independent director.
According to a release from the Frankfurt-based exchange group, Xavier Rolet will step down as CEO of LSEG on completion of the transaction.
“Xavier has been the architect of LSEG’s considerable value creation and has offered to retire in order to ensure the successful creation of the new group,” Brydon said in the release.
“With open access enshrined in European Securities law, the Board considers that the value creating opportunities of the combination stand as a testament to his achievement at LSEG.”
Tune in to this week’s episode of The TRADEcast where we provide our take on the merger and its possible implications.