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Rolet's Exit From LSE Gets Complicated as Hohn Seeks U-Turn

  • Hohn’s TCI Fund Management also urges Chairman Brydon to quit
  • Hedge fund believes Rolet, 57, being ousted against his will
Xavier Rolet

Xavier Rolet

Photographer: Simon Dawson/Bloomberg
Updated on

When London Stock Exchange Group Plc announced last month that Chief Executive Officer Xavier Rolet would leave at the end of 2018, Chairman Donald Brydon celebrated his “remarkable achievements” and thanked him for staying in the role until a successor is found.

What looked like an orderly transfer of power is now threatening to throw the company into turmoil, after hedge-fund manager Christopher Hohn on Friday stunned investors by contending the LSE was forcing the 57-year-old Rolet to leave. Hohn, whose TCI Fund Management Ltd. holds more than 5 percent in the exchange, said Brydon, 72, should quit instead.