Blood on the floor at the Stock Exchange: how boardroom coup led to the sack of a reformer

Article Abstract:

The dismissal of Michael Lawrence as chief executive of the Stock Exchange has had a significant impact on the trading of shares in London, England, and will affect the position of London as a world financial centre. Board members vote for his dismissal after having established that he had lost the confidence of member firms. This is mainly because he implemented wide-reaching reforms which will align share trading practices in the City with those of Tokyo and New York.

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A City crusader who lost the battle

Article Abstract:

The recent dismissal of Michael Lawrence as chief executive of the London Stock Exchange may indicate that this institution is facing a crisis. His moves to introduce reforms were clearly not welcomed, and the future of the Stock Exchange is now beginning to be questioned. Moves to introduce limited order-driven trading may not be wide-reaching enough and may have come too late to save the Stock Exchange.

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Stock Exchange chief gets the sack

Article Abstract:

The board of London's Stock Exchange has decided to terminate the employment of chief executive Michael Lawrence, having lost confidence in him. The move has created considerable controversy in the City of London. Moves will be made to find a replacement, during which period the Exchange's executive committee will be chaired by John Kemp-Welch.

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