By Pietro Lombardi

German stock exchange operator Deutsche Boerse AG (DB1.XE) said on Thursday it has appointed Theodor Weimer as its new chief executive, effective Jan. 1, 2018.

Mr. Weimer, 57, is currently CEO at HypoVereinsbank-UniCredit Bank AG, part of UniCredit Spa (UCG.MI). His appointment is for three years, Deutsche Boerse said.

The appointment comes after Carsten Kengeter said he would step down as CEO after an insider-trading investigation related to Deutsche Boerse's aborted multibillion-dollar merger with London Stock Exchange Group PLC (LSE.LN).

Mr. Kengeter's resignation comes into effect Dec. 31.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 16, 2017 11:08 ET (16:08 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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