Euronext: David Knibbe (NN Group) Tipped to Succeed Stéphane Boujnah in 2027
Stéphane Boujnah has decided to step down as head of Euronext in May 2027. To succeed him, the supervisory board announced on 2 November 2026 its intention to propose the candidacy of the current CEO of NN Group N.V. at the annual general meeting on 20 May 2027.
NN Group Executive Proposed for the Position of Chair of the Managing Board
On the recommendation of the nominations committee, the supervisory board of Euronext N.V., chaired by Piero Novelli, has indicated its intention to propose David Knibbe for the positions of Chief Executive Officer and Chair of the Managing Board. His appointment will be submitted to shareholders at this meeting.
David Knibbe will join the stock exchange operator from NN Group N.V., a company listed on Euronext that he has headed since 2019. He will be based in Paris. The group highlights his experience in managing a heavily regulated business and in leading operational transformations.
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The supervisory board states that it conducted a selection process in which several candidates were reviewed against the group’s strategic priorities and long-term ambitions.
The appointment remains subject to approval by the competent national authorities and the Dutch Minister of Finance, as well as to a vote by Euronext shareholders.
According to Piero Novelli, David Knibbe’s experience in integrations and technological transformation will be “very valuable” as Euronext continues to execute its strategy and invest in its future growth. The chair of the supervisory board also referred to the transformation carried out under the leadership of Stéphane Boujnah over the past decade.
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Context
Period
Period: T3 2026
Key reported figures
Revenue: 547,4 millions d'euros
Quarterly revenue: 547,4 millions d'euros
Revenue growth: 24,9 %
EBITDA: 355,8 millions d'euros
EBITDA margin: 65 %
Net income: 194,9 millions d'euros
Guidance from the release
« Thanks to rigorous cost discipline on recurring expenses, Euronext upgraded its guidance for underlying operating expenses excluding D&A in 2026 to €760 million (from €770 million initially). »
Market volatility dependency affecting volume-related revenues which showed lower proportion (55% vs 60% prior year) despite absolute growth
Regulatory and operational challenges in expanding power markets across multiple European jurisdictions with different local frameworks
Opportunities identified
Successful launch of Euronext Securities' new European CSD model on 21 September 2026, enabling consolidation across multiple markets within a single framework
Expansion of the power franchise across Europe with Nord Pool entering 17th European market (Slovenia) and continued growth in Intraday power trading
Consolidation of Euronext Athens acquisition delivering tangible results with third shipping company listing and reclassification of Greece to developed market status
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.