LSE appoints David Schwimmer as CEO


London Stock Exchange Group PLC (LSE.LN) said Friday that it has appointed David Schwimmer as chief executive officer, effective Aug. 1.

The company said that Mr. Schwimmer will also join the board of directors. Mr. Schwimmer will take on the role of CEO from current interim David Warren, who will continue in his role as chief financial officer.

Mr. Schwimmer joins the stock exchange group from investment bank Goldman Sachs Group Inc. (GS), where he worked for 20 years. Most recently, he served as global head of market structure and global head of metals and mining in investment banking at Goldman.

Mr. Schwimmer’s appointment comes after the unexpected departure of Xavier Rolet. Mr. Rolet’s departure prompted activist investor TCI Fund Management Ltd. to argue the LSE had effectively fired Mr. Rolet under the “guise of succession planning” and risked significant value destruction.

The LSE defended its actions, saying it followed proper governance procedures. Mr. Rolet made it clear he had no plans to return to the exchange and subsequently left on Nov. 29, 2017.

Source : MTV