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Seven Days: 1 December 2017

Seven Days: 1 December 2017

Xavier out

The proposed smooth transition between chief executives at the London Stock Exchange (LSE) has not played out as investors may have hoped. Rather than retire from the top job at the end of 2018, as originally planned, Xavier Rolet has announced he is stepping down immediately. The decision comes after activist investment group The Children’s Investment Fund (TCI) claimed that Mr Rolet was being unfairly dismissed and instead tried to oust the group’s chairman Donald Brydon. To resolve the brewing governance dispute, the board asked Mr Rolet to step aside, while Mr Brydon will not seek re-election as chairman in 2019.

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