The London Stock Exchange Group (LSE) will push ahead with an extraordinary general meeting on 19 December, which will decide the fate of chairman Donald Brydon, after shareholders refused to back down on their demand for a vote.
The meeting was requisitioned by The Children’s Investment Fund (TCI), a 5% stakeholder in the LSE, after it objected in October to news that chief executive Xavier Rolet would leave the stock exchange in 2018.
This week, the LSE announced Rolet’s immediate departure and said Brydon would not stand for re-election to the chairmanship in 2019 in a bid to end the row. However, TCI has insisted that the meeting to vote on Brydon stepping down as chairman should go ahead.
The meeting was also due to vote on a call for Rolet to remain in post until 2021; however, it is reported that TCI has now withdrawn that motion.
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