London Stock Exchange head ousted in board row

London Stock Exchange LSE 480London Stock Exchange chief executive Xavier Rolet has left the business months ahead of his planned exit next year after escalating tensions with the board and investors.

Rolet has “agreed to step down with immediate effect” at the board’s request, the business said this morning.

Chairman Donald Brydon will also leave the board in 2019 amid shareholder pressure for a vote on his future.

Activist investor The Children’s Investment Fund asked the FCA and Bank of England last week to appoint a new chairman amid accusations that the board put excessive pressure on Rolet to leave.

Rolet says: “Since the announcement of my future departure on 19 October, ‎there has been a great deal of unwelcome publicity, which has not been helpful to the company.

“At the request of the board, I have agreed to step down as chief executive with immediate effect. I will not be returning to the office of chief executive or director under any circumstances.”