LME chairman quits ahead of nickel crisis report

London Metal Exchange chairman Gay Huey Evans is quitting as it continues to grapple with the fallout from its nickel market crisis last year.

Ms Huey Evans will go once a replacement has been appointed, the exchange said, without giving a reason for her departure.

She will continue to support the board and executive during the transition, after which she will become a senior adviser to the commodities business of LME owner Hong Kong Exchanges & Clearing.

The exchange responded to a runaway short squeeze last March by closing the market for a week and cancelling billions of dollars worth of trades. An independent review report is due out next week.