LSE says followed 'proper governance process' for CEO succession

London Stock Exchange said it has followed “a proper governance process” to plan an orderly succession for the chief executive officer, after major shareholder TCI Management sent a letter regarding the situation.

TCI, which owns a 5% stake in the LSE, said chairman Donald Brydon should step down, adding that CEO Xavier Roland was being forced out.

But LSE said on Monday that it has kept the Financial Conduct Authority informed throughout the process and emphasised the importance of the plan for an orderly succession.

“Xavier Rolet will be providing input into the process to identify his successor and is focussed on his role as CEO until his successor is appointed,” it said.

At 0935 BST, the shares were up 0.1% to 3,746p.