Michael Lawrence, recently ousted chief executive of the London Stock Exchange, once made a proud boast. “I can speak,” he said, “faster than most people think.” On January 4 he put his eloquence to the test – and failed.
Lawrence had just learned that the exchange’s board was considering his future. He asked for, and obtained, permission to explain why he should keep his job. He obviously wasn’t convincing. A vote was taken after he left the room, then exchange chairman John Kemp-Welch briefly explained the meeting’s decision.
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