Deutsche Börse, the German exchange firm, has altered its executive board. Chief executive Dr Reto Francioni was reappointed to the board, and will serve until October 31, 2016. He has been chief executive since 2005. Hauke Stars was appointed as a member of the executive board with responsibility for the IT and market data and analytics departments, along with selected external IT services, which are to be combined from December 1. She succeeds Dr Ing Michael Kuhn, whose contract expires at the end of the year. Stars is currently general manager of Hewlett-Packard (Switzerland). Frank Gerstenschläger, the executive board member responsible for cash market operations, has opted not to extend his contract when it expires on March 31 2013. The operations will be merged with those of the derivatives business under deputy chief executive Andreas Prauss.