Business World

Sunday 25 August 2019

London Stock Exchange CEO Rolet steps down

REUTERS/Toby Melville
REUTERS/Toby Melville
Ellie Donnelly

Ellie Donnelly

The chief executive of the London Stock Exchange, Xavier Rolet, has stepped down from his position with immediate effect at the request of the board.

According to reports from the BBC, Mr Rolet was stepping down following a boardroom disagreement over his future.

Mr Rolet had been due to leave the position he has held for nine years in December, however the BBC reports that one of the firms biggest shareholders claimed that Mr Rolet was forced out.

In a statement Mr Rolet said that he was stepping down with immediate effect due to what he said has been a great deal of unwelcome publicity since the initial announcement of his departure in October, which he said had not been helpful the company.

"At the request of the board, I have agreed to step down as CEO with immediate effect. I will not be returning to the office of CEO or director under any circumstances. I am proud of what we have achieved during the past eight and a half years," Mr Rolet said.

David Warren, CFO of the London stock exchange, is to assume the additional role of interim CEO until a successor is appointed.

Meanwhile Donal Brydon, chairperson of the London stock exchange, will step down in 2019 at the company's annual general meeting, as he 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.

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