LSE considering Furse successor

Posted by admin on 27 October, 2008 under Business news | Be the First to Comment

The London Stock Exchange has said it has begun “succession planning” over who will replace its chief executive Dame Clara Furse.

Dame Clara has been at the firm for eight years – though the LSE said there was no suggestion that her departure was imminent.

A newspaper report said that a City headhunting firm had been lined up to oversee the new appointment

During her tenure Dame Clara has fended off several hostile takeover bids.

Last year it merged with Italian exchange group, Borsa Italiana and stakes in it have been sold off to Middle East investors in a bid to keep full ownership out of foreign hands.

‘Natural’ thinking

The Sunday Telegraph reported that the Exchange said there was “no formal timetable in place” for Dame Clara’s departure – adding she may stay beyond the end of next year.

The LSE played down the report.

“Clara has been with the Exchange for eight years and it’s natural that the Board is thinking about succession planning,” an LSE spokesman said.

“Clara remains fully committed to the Exchange’s continued success and, in particular, to the completion of its integration with Borsa Italiana.”

News reported by The BBC