Xavier Rolet, former London Stock Exchange boss, to join the board of Russian fertiliser firm Phosagro | City A.M.
Xavier Rolet’s latest venture has been unveiled after a Russian fertiliser giant said the former boss of the London Stock Exchange had been nominated to join its board as an independent director.
Phosagro said its board and corporate governance system would be strengthened with Rolet’s “extensive professional experience”.
Under Rolet’s watch, the LSE’s market capitalisation grew from £800m to £14bn, but he left the group amid a bitter public row with an investor sparked by the announcement of his departure.
“We would be delighted to welcome Xavier Rolet to the board of directors,” said Phosagro’s chief executive Andrey Guryev.
“He has invaluable capital markets experience thanks to his long tenure at the head of a large international financial institution with a UK listing. His exceptional knowledge of best practices in corporate governance and information disclosure for financial markets would also be useful to our company,” Guryev said.
Phosagro, a leading producer of phosphate fertilisers in Europe, is dual-listed in Moscow and London, and it will vote on Rolet’s nomination at its annual general meeting on 30 May.
Read more: Phosagro lists in London for $538m