Euronext intends to nominate NN Group's David Knibbe as CEO to succeed Stéphane Boujnah in May 2027

Euronext’s Supervisory Board intends to nominate David Knibbe, chief executive of NN Group, as Chief Executive Officer and Chairman of the Managing Board of Euronext N.V. The board, chaired by Piero Novelli, acted on a recommendation from its Nomination Committee, Euronext said on 2 Nov. Knibbe would succeed Stéphane Boujnah, whom the release describes as having decided to step down in May 2027. Shareholders will vote on the nomination at the AGM on 20 May 2027.

Knibbe will be based in Paris. Euronext said its board ran a selection process that “considered several candidates in light of the Group’s strategic priorities and long-term ambitions.”

Approvals still needed

The appointment is subject to approval by the relevant national competent authorities and the Dutch Minister of Finance, as well as the AGM vote. Under Euronext’s governance arrangements, a proposed Managing Board nomination “must be submitted to the College of Regulators and the Dutch Ministry of Finance for approval” before the Supervisory Board makes it.

Who Knibbe is

Knibbe has been NN Group’s CEO since 2019. In NN’s own announcement on 2 Nov he said: “This is the right moment for me to move on to a new challenge, after serving 13 years in the Management Board and nearly 8 years as CEO.” NN said he will step down as of 1 Mar 2027 “to pursue an opportunity outside the company”, after a career at the company and its predecessors that it put at nearly 30 years.

NN’s Supervisory Board intends to appoint Tjeerd Bosklopper, currently CEO of NN Netherlands Non-life, Bank & Technology, as his successor. The Dutch Central Bank has approved the appointment. Bosklopper will act as CEO-designate from 1 Mar until he takes office after NN’s AGM on 12 May 2027.

Novelli said Knibbe “brings a consistent track record of value creation in another highly regulated industry. His experience in successful integrations and technology transformation will be highly valuable as Euronext continues to execute its strategy and invests in future growth.” He added that Knibbe “will leverage Euronext’s talented leadership team and people to further connect European capital markets and advance the European Savings and Investments Union.”

The group Boujnah leaves

Boujnah joined Euronext as CEO and Chairman of the Managing Board in Nov 2015. Shareholders reappointed him in May 2023 for a four-year mandate. In that announcement, Euronext credited his tenure with the acquisition of Borsa Italiana, the move of its core data centre from Basildon to Bergamo in Jun 2022, and the migration of Italian markets to its Optiq trading platform in Mar 2023.

Euronext now describes itself as covering “the entire capital markets value chain, from listing, trading, clearing, settlement and custody”. It has regulated exchanges in Belgium, France, Greece, Ireland, Italy, the Netherlands, Norway and Portugal. It provides clearing through Euronext Clearing and settlement through its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal. It took a majority stake in the Athens Stock Exchange in Nov 2025, adding an exchange, a CSD and a clearing house. Euronext says it handles 29% of European lit equity trading. Our recent coverage of its post-trade business includes Euronext Securities opening its CSD network to Amsterdam, Brussels and Paris issuers and Hyloris moving its issuer CSD to Euronext Securities Milan.

Why it matters

Analysis. For members, issuers and post-trade users, the most important question about a Euronext CEO is integration. Under Boujnah the group bought venues and infrastructure, then moved them onto common systems: Optiq for trading, an expanded Euronext Clearing, and a growing Euronext Securities CSD network. Athens adds a further exchange, CSD and clearing house to bring onto that model. Euronext’s board explicitly cites Knibbe’s “experience in successful integrations and technology transformation”, which points to execution rather than another acquisition spree. That is our reading; the release does not rule out deals.

Knibbe’s career has been at NN and its predecessor organisations, not at an exchange. Euronext presents that as a strength, citing his record “in another highly regulated industry”. Market participants will judge him on how quickly he learns venue economics, market data and clearing risk. As CEO of a Euronext-listed company, he also knows the listing franchise from the issuer’s side.

Timing creates a gap. Knibbe leaves NN on 1 Mar 2027, while the Euronext AGM vote is on 20 May. Neither release says what role, if any, he will have at Euronext before then.

What we are watching

• Approvals from the College of Euronext Regulators and the Dutch Ministry of Finance, and the AGM convocation with the formal nomination.
• Whether Euronext sets out Boujnah’s future role, if any, and whether Knibbe joins before the AGM.
• Any change in strategic emphasis once Knibbe sets out his priorities.

Sources

• Euronext intends to nominate David Knibbe as Chief Executive Officer and Chairman of the Managing Board, Euronext (investor relations), 2 Nov 2026
• Same release, distributed via GlobeNewswire, Euronext, 2 Nov 2026
• Tjeerd Bosklopper to succeed David Knibbe as CEO of NN Group, NN Group, 2 Nov 2026
• Stéphane Boujnah reappointed as CEO and Chairman of the Managing Board of Euronext, Euronext, 17 May 2023
• Corporate Governance, Euronext, accessed 2 Nov 2026