London Stock Exchange chief executive office Xavier Rolet is to step down with immediate effect following a boardroom battle over his future.

Mr Rolet was due to step down at the end of next year but the group said in a statement on Wednesday morning that he will now go with “immediate effect” following a request by the board.

He will be replaced by chief financial officer David Warren on an interim basis until a permanent successor is found.

Mr Rolet said he had been asked to leave by the board after “unwelcome publicity” following the announcement of his departure on 19 October.

In a statement announcing his departure he said: “At the request of the Board, I have agreed to step down as CEO with immediate effect. I will not be returning to the office of CEO or director under any circumstances.”

“I am proud of what we have achieved during the past eight and a half years,” Mr Rolet added.

The move comes after a dispute between the group and shareholder The Children’s Investment Fund Management (TCI).

Last month, Christopher Hohn, founder of the TCI, accused LSE’s chairman Donald Brydon of trying to push Mr Rolet out against his wishes.

LSE said in a statement: “If TCI does not withdraw its requisition in full, the board intends to publish a shareholder circular confirming among other things the date of the general meeting at which the proposed resolution or resolutions will be put.”

On Tuesday, Mark Carney, the Bank of England Governor, said he was “mystified” by the ongoing row over the departure.

“I can’t envisage a circumstance where a chief executive stays beyond the agreed period. But it’s in the interest of all parties involved that clarity is provided as soon as possible,” he said.



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