London Stock Exchange CEO to resign

(Bloomberg) The London Stock Exchange (LSE) said Chief Executive Xavier Rolet will step down immediately following a request from the board.

Rolet will be replaced in the interim by CFO David Warren, it said in a statement on Wednesday.

The LSE also asked activist shareholder TCI Fund Management to withdraw its requisition for a general meeting.

Chairman Donald Brydon will not be standing for re-election in 2019, the LSE also said.

"Since the announcement of my future departure on 19 October, there has been a great deal of unwelcome publicity, which has not been helpful to the company," Rolet said.

"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."

Under Rolet, the LSE's stock has risen almost sixfold.

Since the October 19 announcement of his departure by the company, slated for next year, activist shareholder TCI Fund Management head Christopher Hohn has campaigned to keep him in the role, while calling on the LSE chairman to leave and demanding a meeting of shareholders.

TCI owns 5% of LSE stock.