- Push-out Score suggests push-out forces
- Accolades and praise for Rolet
- Search for a successor
- Rolet spoke at length and said 158 words
(exechange) — London, United Kingdom, October 19, 2017 — Xavier Rolet, chief executive of London Stock Exchange, prepares for his departure. As announced by London Stock Exchange Group plc in a regulatory filing published on Thursday, October 19, 2017, Xavier Rolet, Chief Executive Officer, leaves the stock exchange and financial information company, effective by the end of December 2018.
London Stock Exchange will undertake a search for a successor.
It is a long goodbye. The announcement of Rolet’s move comes up to 14 months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure very early may be considered a lame duck.
Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.
Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.
No reason given
In the announcement, London Stock Exchange did not explicitly explain the reason for Rolet’s move, leaving room for speculation.
Precise information about the future plans of Rolet was not immediately available.
London Stock Exchange said: “As Xavier Rolet approaches nine years of extraordinary success, London Stock Exchange Group (LSEG) announces that he will leave the Group by the end of December 2018.”
Share price rise since June 2010
The change follows a rise in the share price of London Stock Exchange Group plc since June 2010.
Chaired by Donald Brydon
London Stock Exchange Group plc is chaired by Donald Brydon.
Brydon was appointed to the Board in June 2015 and appointed Chairman in July 2015.
On the job as CEO since 2009
Xavier Robert Rolet, KBE, has been the Group Chief Executive Officer of London Stock Exchange Group plc, an affiliate at London Stock Exchange Plc since May 20, 2009 and its Executive Director since March 16, 2009.
Rolet was appointed to the Board in March 2009.
From 2000 to 2008 he was a senior executive at Lehman Brothers and, most recently, CEO of Lehman in France.
Prior to Lehman Brothers, he held senior positions at Dresdner Kleinwort Benson from 1997 to 2000, Credit Suisse First Boston from 1994 to 1996 and Goldman Sachs from 1984 to 1994.
Generally speaking, when a top manager announces to step aside with no successor available, it is a sign that the move was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Xavier Rolet’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 43.2017 ($).