London Stock Exchange boss quits - a day after Carney intervention

Mark Carney

Mark Carney

Xavier Rolet, who has been CEO of the world's third biggest stock market since 2009, said Wednesday that he would immediately resign his position.

TCI had accused LSE Chairman Donald Brydon of pushing Rolet out and called the shareholder meeting to try to reverse the decision and oust Brydon.

Rolet stepped down at the request of the LSE's board, and will be replaced by the LSE's chief financial officer, David Warren.

The Children's Investment Fund Management (TCI), which owns more than 5% of the LSE, has pushed for Mr Rolet to remain as the LSE's boss, and for Mr Brydon to leave instead. But TCI Fund Management, run by Christopher Hohn, claimed that the exchange had forced Mr. Rolet to retire, and waged an aggressive campaign to keep him in place, calling for Donald Brydon to be replaced as chairman of the exchange.

Peace talks begin in Geneva to end the civil war in Syria
Syrian opposition representatives also called for direct negotiations in Geneva with representatives of the Assad government. The eve, de Mistura said these dialogues will be a decisive point for the peace process in the Middle East nation.

The LSE's leadership row had caught the attention of the Governor of the Bank of England, Mark Carney, who said on Tuesday that he was "mystified" by the tussle.

The row - coming at a tricky time for the LSE as it risks losing a chunk of its derivatives clearing business to erstwhile merger partner Deutsche Boerse due to Brexit - had dragged in the Bank of England.

"I will not be returning to the office of chief executive or director under any circumstances".

In a letter to the board of the LSE seen by Reuters, TCI founder Chris Hohn said: "Thank you for your letter of today".

Dana White: Conor McGregor 'might never fight again'
White added: 'Try to get up and get punched in the face every day when you've got $100 million in the bank. I can't chase these things around. "If it's true, we'll get it figured out and we'll go from there".

"I can't envisage a circumstance where a CEO stays beyond the agreed period", he said.

Xavier Rolet, aged 57, quit his role as boss of one of the world's largest stock exchanges after a month of public rows and is set to get 13 million pounds (17.45 million USA dollars), including full salary for a year of "gardening leave". TCI declined to comment.

The exchange must chart a new course after the European Union blocked its plan to merge with Deutsche Boerse.

Shares in the LSE Group fell 2% after Mr Rolet's shock announcement.

Indian authorities jail donkeys for eating expensive plants
Kamlesh said that in spite of repeated requests from him, the policemen at the jail refused to release the animals. Their bail had been paid by a local politician from the ruling Bharatiya Janata Party (BJP), according to NDTV .

Rolet's decision to leave follows a public dispute over his future at LSE, which is the world's third largest stock exchange with a market capitalization of more than 6 trillion US dollars.

Recommended News

  • 24-year-old man arrested in Tampa serial killings

    24-year-old man arrested in Tampa serial killings

    A third man, 20-year-old Anthony Naiboa, was gunned down October 19 - just 200 yards from where Mitchell was found shot. Donaldson is suspected of having killed four people in the Seminole Heights neighborhood since October 9.
    Wingsuit maniacs jump INTO passing airplane

    Wingsuit maniacs jump INTO passing airplane

    In the thrilling Red Bull video, Fred Fugen and Vince Reffet, known as the Soul Flyers , land safely mid-air into a moving plane. The stunt took two months of preparations and the pair actually completed it multiple times in order to shoot the video.
    Firaxis announces Civilization VI: Rise and Fall expansion

    Firaxis announces Civilization VI: Rise and Fall expansion

    Over the course of Sid Meier's Civilization VI , many empires try to rise, but only one can truly stand the test of time. Civilizations will go through "Golden Ages" and "Dark Ages", much as they do in real life.
  • Tip blasts Grammys for failing to nominate Tribe album

    Tip blasts Grammys for failing to nominate Tribe album

    This f**king album that we just put out, this last Tribe album , it stands with everybody's s**t that's up there. Thank You 4 Your Service, not receiving a single nomination at this year's Grammy Awards .
    Black Mirror: Season Four Trailers and Art Released

    Black Mirror: Season Four Trailers and Art Released

    Here's a teaser for " Crocodile ", the episode being helmed by The Proposition and The Road director John Hillcoat . The series is created and written by Charlie Brooker , and executive produced by Brooker and Annabel Jones.
    Terrorist attack foiled in Australia

    Terrorist attack foiled in Australia

    A man has been arrested by counter-terrorism police for allegedly plotting a New Year's Eve terror attack in Melbourne . Police arrested the man - a Muslim born to Somali parents - after he attempted to purchase an automatic rifle.
  • Muslim leaders speak out against Trump's inflammatory retweets

    Muslim leaders speak out against Trump's inflammatory retweets

    The first video is captioned "Muslim migrant beats up Dutch boy on crutches", and shows one man kicking another to the ground. Mrs May delivered the surprise invitation during a visit to the White House shortly after Mr Trump's inauguration.
    Rahul Gandhi a non-Hindu? Congress VP at Somnath Temple, row erupts

    Rahul Gandhi a non-Hindu? Congress VP at Somnath Temple, row erupts

    This means Rs 37,000 debt on every Gujarati. "They have not even spared the farm equipment and imposed GST on it". Modi also needs to give account of the employment provided by his government to the youth of this country.
    Nuovo lancio dalla Corea del Nord

    Nuovo lancio dalla Corea del Nord

    Il lancio è il primo dall'ultimo test avvenuto il 15 settembre scorso, quando venne lanciato un Irbm, missile a medio raggio. La Corea del Sud sta preparando un'esercitazione missilistica "per un raid di precisione" in risposta.
  • Trio get death in Kopardi rape, murder case

    Trio get death in Kopardi rape, murder case

    The argument over the point of death sentence was concluded by defence lawyer and special public prosecutor Ujjwal Nikam. When the sentence was read out on Wednesday, the three accused were speechless.
    WhatsApp may add some new features in the app for iOS

    WhatsApp may add some new features in the app for iOS

    YouTube's controversy over violent, predatory videos impersonating as videos for children started about a month ago. Earlier, when users clicked on the link, the YouTube video would open in YouTube app installed on the smartphones.
    BMW i8 Roadster: This Is It, With Slightly More Horsepower and Range

    BMW i8 Roadster: This Is It, With Slightly More Horsepower and Range

    Its cell capacity is up from 20 Ah to 34 Ah, while the gross energy capacity has been increased from 7.1 kWh to 11.6 kWh. BMW has just taken the wraps of its latest generation of hybrid i8 supercar in the form of the new i8 Roadster .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.