OREANDA-NEWS. The Exchange Council of the Frankfurt Stock Exchange unanimously elected Michael Rüdiger as its new Chairman today. Rüdiger is CEO of DekaBank Deutsche Girozentrale, and has been a member of the Exchange Council as representative of public law credit institutions since the last election on 1 December 2016. He takes over from Lars Hille, representative of the cooperative financial services network (Genossenschaftliche Finanzgruppe, who will leave DZ BANK AG in October 2017 and therefore will terminate his membership in the Exchange Council after ten years. Dr Matthias Zieschang, Executive Board member at Fraport AG, remains Deputy Chairman.

"Lars Hille took over the chairmanship during challenging times but made the most of his brief tenure, taking an active and engaged approach to the role. We are delighted that with Michael Rüdiger we once again have an excellent representative of the Frankfurt financial centre heading the Council," said Carsten Kengeter, CEO of Deutsche Börse AG. "We wish Michael Rüdiger every success in the role."

The Exchange Council of the Frankfurt Stock Exchange is the body that represents the interests of stock exchange users, particularly banks, financial service providers and issuers. The Exchange Council of the Frankfurt Stock Exchange has 18 members, who were most recently elected on 1 December 2016 for a term of three years. As the controlling and supervisory body of the stock exchange, its duties include appointing and supervising the stock exchange management board as well as issuing the Exchange Rules, the Fee Regulations and the Conditions for Transactions on the Exchange.