DONALD Brydon, the chairman of London Stock Exchange, has thanked shareholders after 79 per cent voted against a resolution to remove him from the board.
Mr Brydon, a Scot, faced shareholders at the group’s general meeting after a motion was brought by the Children’s Investment Fund, which has claimed that Mr Brydon forced out chief executive Xavier Rolet, who had been at the helm of the group for eight years. The Children’s Investment Fund had backed Mr Rolet.
After the votes had been counted, it was revealed that 20.9 per cent of votes cast were in favour of removing Mr Brydon from his position.
Commenting, he said: “The board would like to thank shareholders for their support today. The board and I welcome the stability that this gives the group. The recruitment process for a new CEO is underway and we will update our shareholders in due course.”
A boardroom wrangle at the London Stock Exchange led to intervention from Bank of England Governor Mark Carney.
David Warren, interim chief executive, said: “The senior management team and I continue to focus on executing on our clearly articulated long-term growth strategy and targets in addition to our ambition to drive global growth and further develop our customer partnership approach.”
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