Euronext’s CEO Luis Laginha Parting Ways With Exchange

Euronext, Europe’s largest Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has announced the resignation of Luis Laginha, the Chairman and Chief Executive Officer (CEO) of Euronext Lisbon and Interbolsa, who has decided to part ways with the group to pursue other professional interests, according to a Euronext statement.

Mr. Laginha has also been an acting member of Euronext’s managing board. His departure was mutually agreed upon, and will see him retain his responsibilities up until February 22, 2016 when the group will hold a shareholders’ meeting. Euronext has not revealed a replacement at this time, though a recruitment process will begin immediately to find a candidate.

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Up until a more permanent replacement can be found however, Euronext will rely on the services of Isabel Ucha, presently a member of the Board of Euronext Lisbon and Director of Local Market Development – she will be appointed as the interim CEO of Euronext Lisbon for the duration of her interim position.

Alternatively, Rui Matos, a Board Member of Interbolsa, will be named as the interim CEO of Interbolsa while Hugo Rocha will be added to the Board of Euronext Lisbon.

According to Mr. Laginha, in a recent statement on the departure: “During the period I’ve been at Euronext, the Portuguese market has witnessed the most difficult period in forty years. Despite this, it has been a privilege and an honour to serve the company and I am proud of all that has been achieved, both externally and internally, since my appointment as CEO.”

“Euronext plays a key role in financing the real economy in Portugal and several actions have been taken for this role to be substantially expanded; I would like to express my gratitude for all the support from the local community and from the Euronext and Interbolsa teams. I wish the very best to Euronext and to the person who will replace me,” he added.