MAGNUS Bocker, CEO of Singapore Exchange (SGX), will not be extending his contract beyond June 30, SGX said in a press release on Tuesday evening.
"The board is moving forward with its CEO succession plan and is assessing internal and external candidates on a short list. The board has engaged the global executive search and leadership advisory firm Spencer Stuart to facilitate the process," SGX said.
Mr Bocker, a Swedish national, has been CEO of SGX since Dec 1, 2009. He was previously president of Nasdaq OMX.
"There is a time and season for everything, and it is now time for me to take on new challenges," he said.