London Stock Exchange boss leaves amid boardroom row

LSE chief executive Xavier Rolet (L) and chairman Donald Brydon (R)Image copyright
Getty Images

Image caption

LSE chief executive Xavier Rolet (L) and chairman Donald Brydon (R)

The chief executive of the London Stock Exchange, Xavier Rolet, has left the company after a bruising boardroom row over his future.

The company said Mr Rolet had “agreed to step down with immediate effect” at the board’s request.

Mr Rolet was due to leave next year, but one of the firm’s biggest shareholders claimed he was forced out.

Bank of England Governor Mark Carney said on Wednesday the situation needed to be cleared up as soon as possible.

It has also been announced that LSE Chairman Donald Brydon, who faced a shareholder vote on whether to remove him from the board, will step down in 2019.

Mr Brydon and the board “believe that at that point it would be in shareholders’ interests to have a new team at the helm to steer the future progress of the company”, the firm said.

The Children’s Investment Fund Management (TCI), which owns more than 5% of the LSE, has pushed for Mr Rolet to remain as the LSE’s boss, and for Mr Brydon to leave instead.

Chief financial officer, David Warren, will take over as interim chief executive from Mr Rolet.

Source link