Deutsche Börse loses CFO and COO in restructuring

The exchange plans to legally restructure the company, which it says could allow it to distribute up to €500 million to shareholders. Spokesman Walter Allwicher said they were working through the decision-making process that required executive board, supervisory board and shareholder approval, and the matter was unlikely to be concluded by the annual general meeting in May.

Hlubek was with the exchange for eight years, five of those as chief financial officer, during which time he oversaw the exchange’s initial public offering and its acquisition of Clearstream, the European clearing and settlement house. Chief executive Reto Francioni will assume Hlubek’s responsibilities until a replacement is appointed.

Ganz had worked at the exchange since 1993, and was in charge of operations for the last three years. Other members of the executive board will take on his responsibilities.