The London Stock Exchange Group is to go ahead with a vote on its future chairman Donald Brydon after shareholders refuse to back down.
Xavier Rolet’s immediate departure from the London Stock Exchange Group, and news that its chairman will not stand for re-election, deepens its clash with investors over governance.
Shareholder The Children’s Investment Fund demands that London Stock Exchange chief executive Xavier Rolet be permitted to speak out about his departure.
Senior figures from The Children’s Investment Fund are set to meet the London Stock Exchange board next week to discuss the departure of chief executive Xavier Rolet.
London Stock Exchange defends the departure of chief executive Xavier Rolet, saying it followed “proper governance process”.
Chief Andrew Bailey will appear before MPs to answer questions on the work of the Financial Conduct Authority, including a consultation on allowing sovereign-owned companies a premium listing in the UK.
Chief executive Carsten Kengeter will leave the German exchange by the end of the year, after failing to reach a settlement over allegations of insider dealing involving €4.5m in shares.
Andrew Bailey has said a new premium listing category will require sovereign-owned companies to meet stringent governance standards, but with a few ‘tweaks’ to current regulation.
The Financial Conduct Authority says changes to the listing rules to allow sovereign-owned companies will be “transparent and safe”.
The UK IPO process is set to be reformed, as the Financial Conduct Authority proposes changes to improve prospectuses and alleviate the risk of conflicts of interest.