FRANKFURT (Reuters) - Deutsche Boerse (ETR:DB1Gn) CEO Theodor Weimer said he would not pursue another term when his contract runs out next year, comments sure to foment speculation about a successor at the helm of one of Germany's most valuable companies.
Weimer joined the German exchange operator in 2018, becoming one of the country's highest-paid corporate chiefs and ushering in a period of relative calm after turbulent years.
Weimer's contract runs until the end of next year, but he made clear on Monday evening that he would not seek renewal, pointing to his age - he will be 65 when his contract ends - and the need for companies to remain "agile".
"Others need a turn," he told journalists in Frankfurt.
"Companies always need fresh blood and new ideas through internal or external candidates," he said.
Weimer ascended to the pinnacle of German finance after his predecessor stepped down amid an ongoing investigation into allegations of insider trading.
For years, the company had tried and failed to merge with London Stock Exchange to create a global titan in the industry.
Weimer, a former Goldman Sachs (NYSE:GS) partner, also sought deals during his tenure, though most have been more modest.
Deutsche Boerse earlier this year announced a 3.9 billion euro ($4.26 billion) takeover of Danish investment management software company SimCorp. It also bought Institutional Shareholder Services.
Some deals didn't pan out, like an approach for Borsa Italiana.
Weimer said billion-euro deals were unlikely in the coming 18 months as the company seeks to reduce debt.
Deutsche Boerse saw profit rise 24% last year as volatility in financial markets lifted trading volumes and revenues.
Asked about his future, Weimer said he had no plans but would be drawn to technology, something "a bit more international" and that didn't necessarily have to involve supervisory boards.
($1 = 0.9147 euros)