Shareholders in the London Stock Exchange (LSE) will have to decide whether to expel the president and keep its chief executive following investor pressure.
The LSE has confirmed that it would hold an extraordinary general meeting following a request from the Children’s Investment Fund Management (TCI), which holds more than 5% of the LSE.
The fund is seeking removal of the chairman Donald Brydon.
Want to Xavier rolet, had to leave the next year, to keep the LSE boss.
The LSE has 21 days to send a notice to shareholders of a meeting. Then has 28 days from the date on which the notice is sent to hold the extraordinary general meeting.
Mr. Brydon has been under increasing pressure with regard to the departure of Mr rolet, in the midst of claims that the chief executive was forced out.
The LSE announced in October that Mr rolet, would step down next year and that it was beginning a search for his successor.
However, Christopher Hohn, the investment manager of TCI, says Mr rolet, is forced to leave the company he has led for nine years.
In a letter to Mr Brydon, Mr Hohn wrote: “you have failed to provide shareholders with the concrete basis for the removal of the chief executive officer.”
On Friday, the LSE confirmed it had received a notice from TCI in search of an extraordinary general meeting.
TCI wants Mr Brydon to be removed from office with immediate effect”. He also wants a vote on terminating the search for a new director-general and, except for Mr. rolet, the consent, permission to remain in his post until 2021.