Xavier Rolet, London Stock Exchange - The Good Economy Debate (Ep.06)
Xavier Rolet, CEO of the London Stock Exchange Group gives his thoughts on The Good Economy. The Good Economy debate was convened by the All Party Parliamentary Group on Inclusive Growth to discuss how to reconnect wealth creation with social justice.
Xavier Rolet will step down as chief executive of the London Stock Exchange Group by the end of next year, bringing to an end a nine-year tenure that has transformed one of the City’s most high-profile institutions.
The company said on Thursday it had started to look for a successor for Mr Rolet, who will retire in 14 months’ time.
Mr Rolet, who joined from Lehman Brothers in 2009, has overhauled the exchange from one largely focused on UK equities trading and fighting off takeover bids, to one that encompasses trading, provision of data to investors and clearing swaps for over-the-counter markets.
John Armitage, Egerton chief investment officer, said: “Xavier is one of the best chief executives in London, has created huge value for shareholders. It is not clear he wants to retire. If he wishes to go and make wine that is fine, but if the board has let him go for any other reason that is a huge dereliction of duty.”
TCI, run by London activist Sir Chris, has been a shareholder throughout Mr Rolet’s period in charge, during which time the LSE’s market capitalisation has gone from £800m to nearly £14bn.
TCI has built a reputation as one of Europe’s largest and most feared activist investors after waging a string of campaigns against companies in Europe, Asia and the US.
Comments
Post a Comment