Sunday, August 19, 2018
Business

Former Deutsche Boerse boss could rake in €9m over the next four years

The former chief executive of Deutsche Boerse could still receive millions of euros over the next four years, the company disclosed today in its annual report.

Carsten Kengeter, who stepped down at the end of 2017 after an investigation into allegations of insider trading of shares in London Stock Exchange (LSE), will take home €1.5m (£1.3m) in cash until the end of August.

The ex-boss of the German stock exchange received his monthly base salary of €125,000 between January and March, and from April to August he will be handed €222,000 each month in contractually agreed non-competition compensation.

Kengeter will also be able to receive up to €7.5m through his long-term incentive plan in three tranches between 2019 and 2021.

He has no pension claims however, as his previous claims on pension benefits lapsed when he left the company, Deutsche Boerse said.

Read more: Deutsche Bank to pay out €2.2bn in bonuses after third annual loss

Original Article

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