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Bloomberg
London Stock Exchange Group Plc’s directors should be prepared to confront “behavioural and performance issues†among management, according to a review that absolved its board of blame in the acrimonious departure of former CEO Xavier Rolet.
Rolet abruptly left LSE in November amid a battle between the 217-year-old bourse’s board and activist investor TCI Fund Management, which wanted Rolet’s contract extended. The board subsequently commissioned Simon Collins, former UK chairman at KPMG, to review what happened.
The review found that “even with hindsight, the board did not act improperly and alternative approaches to Rolet’s succession would still have caused disruption,†Brydon said.