Dispute in London Stock Exchange's search for CEO successor

The London Stock exchange has said that it has followed “proper governance process” for its CEO succession, despite a major shareholder saying that CEO Xavier Rolet was being forced out – Reuters reports.

TCI Fund Management, which owns more than five per cent of the stock exchange, is calling on Chairman Donald Brydon to step down. It also wants Rolet’s contract to be extended to 2021 and therefore wants the Search for his successor to be ended immediately.