LSE Directors Should Confront ‘Behavioral Issues’ Post-Rolet

London Stock Exchange Group Plc’s directors should be prepared to confront “behavioral and performance issues” among management, according to a review that absolved its board of blame in the acrimonious departure of former Chief Executive Officer Xavier Rolet.

Rolet abruptly left LSE in November amid a battle between the 217-year-old bourse’s board and activist investor TCI Fund Management, which wanted Rolet’s contract extended and sought to oust Chairman Donald Brydon instead. The board subsequently commissioned Simon Collins, the former U.K. chairman at KPMG, to review what happened.

The review found that “even with hindsight, the board did not act improperly ...