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After six years as the CEO of Singapore Exchange (SGX), Magnus Bocker will be leaving his post when his contract ends in June this year.
Having been the CEO of SGX since December 1, 2009, Bocker has notified the board of directors that he does not intend to seek extension of his appointment once his contract ends on June 30, 2015.
“It has been an honour to lead the extraordinary people at SGX for more than half a decade. I am proud of our accomplishments in expanding SGX both in Singapore and internationally, especially for Asian equity index derivatives,” he said.
“But there is a time and season for everything, and it is now time for me to take on new challenges. I am confident that what we have built at SGX will endure and continue to serve the market well.”
The SGX board of directors will be moving on with it’s CEO succession plan and is currently assessing shortlisted internal and external candidates. It has engaged Spencer Stuart to facilitate the process.
Respectful of Bocker’s decision, SGX chairman, Chew Choon Seng said, “We appreciate and thank Magnus for his contributions and leadership over an eventful and rapidly changing period, and wish him the best in his future endeavours. We will work towards a smooth leadership transition.”