Euronext plans to nominate David Knibbe as chair on May 20, 2027
Key Facts
Euronext said on November 2, 2026, that its Supervisory Board intends to nominate David Knibbe for the roles of chief executive officer and executive chair at the annual shareholders’ meeting scheduled for May 20, 2027. The announcement follows Stéphane Boujnah’s decision to step down from his role in May 2027, but the succession has not yet been finalized. The proposed nomination requires approval from the competent national authorities and the Dutch finance minister, and will also be put to the company’s shareholders. Euronext has therefore set a date for a decision on the leadership transition, while the outcome remains subject to regulatory and shareholder approval. The company said Knibbe would join from NN Group, where he has been chief executive officer since 2019, and would be based in Paris.
Euronext said its Supervisory Board conducted a rigorous selection process that included several candidates, assessing them against the group’s strategic priorities and long-term ambitions. The company did not describe the process as a succession plan, instead linking Knibbe’s selection to its strategic direction. It added that his experience includes leading highly regulated businesses, executing operational transformations and delivering value for shareholders. The company believes this experience will help it continue its strategic growth and strengthen the integration of European capital markets. Supervisory Board Chairman Piero Novelli said Knibbe’s experience in mergers and technological transformation would be useful as Euronext continues to implement its strategy and invest in future growth.
Reuters reported that the choice surprised some market participants, as many had expected Boujnah to be succeeded by veteran chief financial officer Giorgio Modica. The agency quoted one market participant as describing Knibbe’s appointment as a "surprise," noting that many expectations had favored Modica. The proposed nomination falls outside the scenario anticipated by some market participants, but does not change the formal conditions the company has set for its completion. At NN Group, the company said Tjerd Bosklopper would succeed Knibbe after its annual meeting on May 12. Bosklopper will become chief executive officer-designate on March 1, paving the way for a leadership transition at the insurer as Knibbe’s proposed move to Euronext proceeds.
The proposed leadership change comes at the helm of a group that operates multiple European markets, after Euronext recorded growth in revenue and underlying income in 2025. The total reached 1,823.2 million euros, up 12.1% from 2024. Non-volume-related revenue accounted for 59% of the group’s underlying revenue and covered 157% of underlying operating expenses excluding depreciation and amortization. These figures show the diversity of income sources alongside trading activities, while the European integration and growth priorities cited by the company are central to the phase shareholders will be asked to approve under its leadership. In equity markets, revenue rose 11.7% to 410 million euros in 2025, while revenue from fixed income, currency and commodity markets increased 16.2% to 342.8 million euros.
Cash equity trading activity recorded an average daily value of 12 billion euros in the fourth quarter of 2025, up 14% from the same quarter in 2024. Euronext’s average share of the cash equity market was 64.2% in the same quarter. The activity’s performance provides operational context for the agenda facing the next leadership team, as the company said Knibbe’s experience in transformation and integration aligns with its future goals. In trading in the stock, ERNXY closed at 39.16 on October 30, 2026, according to EL7 data, which did not specify the currency unit. Euronext’s board is scheduled to put Knibbe’s nomination to shareholders on May 20, 2027, after the required approvals from the competent authorities and the Dutch finance minister have been obtained.