LSE defends chair

THE London Stock Exchange has hit back after an investor claimed its chief executive was being forced out.

LSE boss Xavier Rolet is due to quit next year after a replacement has been found.

But outspoken hedge fund manager Chris Hohn argues that he has been pushed to go by the exchange’s chairman Donald Brydon.

Hohn, whose firm The Children’s Investment Fund owns 5pc of LSE, has demanded that Brydon quits instead.

In a statement yesterday, an LSE spokesman insisted the firm was following proper procedures and is working on ‘an orderly succession’.