Euronext picks NN Group chief David Knibbe as next CEO as Stéphane Boujnah prepares to step down
Europe's largest stock exchange group will put Knibbe forward at its May 2027 annual meeting. NN Group has named Tjeerd Bosklopper as his successor at the Dutch insurer.
Euronext, the operator of stock exchanges in Amsterdam, Paris, Milan, Dublin, Lisbon, Oslo, Brussels and Athens, announced on 2 November 2026 that its Supervisory Board intends to nominate David Knibbe as Chief Executive Officer and Chairman of the Managing Board. Knibbe has been chief executive of Dutch insurer NN Group since 2019.
The nomination follows Stéphane Boujnah's decision to step down in May 2027. Knibbe's appointment will be put to shareholders at Euronext's annual general meeting on 20 May 2027. Reuters reported that Boujnah has led the group since 2015.
What Euronext announced
According to Euronext, the nomination came after a recommendation by the Nomination Committee and a selection process in which the Supervisory Board, chaired by Piero Novelli, considered several candidates. Knibbe will be based in Paris. His appointment still needs approval from the relevant national financial regulators, the Dutch Minister of Finance and Euronext's shareholders.
Novelli said Knibbe brings "a consistent track record of value creation in another highly regulated industry" and that "his experience in successful integrations and technology transformation will be highly valuable as Euronext continues to execute its strategy and invests in future growth." Euronext said Knibbe will build on the growth delivered under Boujnah and work to further connect European capital markets and advance the European Savings and Investments Union.
A succession at NN Group as well
On the same morning, NN Group said that Tjeerd Bosklopper, currently CEO of NN Netherlands Non-life, Bank & Technology, will succeed Knibbe. Knibbe will leave NN as of 1 March 2027, after almost 30 years with the company and its predecessors, including 13 years on the Management Board and nearly eight as CEO. Bosklopper will act as CEO-designate from 1 March and his appointment takes effect after NN's annual general meeting on 12 May 2027. The Dutch central bank has already approved it.
"This is the right moment for me to move on to a new challenge," Knibbe said in NN's statement.
The Boujnah era
Reuters noted that over his 11 years, Boujnah will have overseen Euronext's change from a spin-off of Intercontinental Exchange into one of Europe's leading exchange operators, most recently by buying Greek market operator ATHEX. Today Euronext's regulated markets in Belgium, France, Greece, Ireland, Italy, the Netherlands, Norway and Portugal host more than 1,800 listed issuers with €7 trillion of market capitalisation, and the group handles 29% of European lit equity trading, according to the company.
Boujnah has also been one of the loudest voices on the fragmentation of Europe's capital markets. Reuters reported that he has backed the idea of a single European stock exchange and called on EU policymakers to unlock the savings held by Europeans.
A surprise choice
According to Reuters, one trader called the appointment a surprise, as many had expected long-serving finance chief Giorgio Modica to take over. A Euronext spokesperson declined to comment beyond the statement, citing the quiet period before its third-quarter results. Irish broadcaster RTÉ also reported the change.
What it means for European founders and investors
Exchange leadership matters for founders because it shapes where and how European companies go public. Euronext is the largest listing venue in continental Europe, and its next CEO will take over at a time when policymakers are trying to make it easier for growth companies to raise money at home rather than list in New York.
Choosing an insurance chief is notable. Insurers and pension funds are among the largest pools of long-term savings in Europe, and getting more of that money into equities, including smaller and younger companies, is a central goal of the Savings and Investments Union. Knibbe's background at one of the Netherlands' biggest insurers gives him direct experience of the investor side of that problem.
Integration is the other theme. Euronext has grown largely through acquisitions of national exchanges, and both Euronext and NN stressed Knibbe's record on integrations and technology change. For investors, the question is whether the new leadership keeps buying exchanges and market infrastructure, as rivals do: the London Stock Exchange Group recently agreed to acquire credit data provider Octus.
For founders weighing an IPO, little changes in the short term. Boujnah remains in charge until May 2027, and recent listings such as Abenojar Tungsten in London and TK Accelis in Frankfurt show that European venues compete actively for new issuers.
What happens next
Euronext will publish its third-quarter results shortly. Knibbe's nomination will go to the annual general meeting on 20 May 2027, subject to regulatory approval. It is the second leadership change announced at a major European financial institution in a few days, after the ECB said that Christine Lagarde will step down in February 2027.
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