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Almost 80% of LSE shareholders vote to retain Donald Brydon as chairman

A majority of London Stock Exchange Group Plc's shareholders voted to retain Chairman Donald Brydon in his post during a general meeting on Dec. 19.

LSE announced that 79.07% of its shareholders voted in favor of Brydon, while 20.93% voted to remove him with immediate effect.

The decision is a blow to activist shareholder TCI Fund Management Ltd., which demanded the immediate removal of Brydon from his post, as it did not approve of how he handled former LSE CEO Xavier Rolet's departure from the company.

Brydon, who is scheduled to leave the group in 2019, commented that the recruitment process for a new CEO is underway and that the company will update its shareholders on the matter in due course.