LME announces board changes
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The London Metal Exchange (LME) has announced that the LME chair, Gay Huey Evans CBE, will not seek re-election and will step down once a new chair has been appointed. She will continue to support the board and the executive during the transition, after which she will become a senior advisor to the HKEX commodities business.
The LME board has begun a global search for a new chair and will update the market in due course. The committee is made up of the LME board directors Nicolas Aguzin, Laura M Cha, Antony Stuart and John Williamson.
The LME has also announced that, subject to FCA approval, two new independent non-executive directors, Martin Fraenkel and Pierre Vareille, will be appointed to the LME Board. They both bring deep industry expertise and considerable experience, and they will join the Board in Q1 2023.
Gay Huey Evans said: “In a period of significant change I have greatly appreciated the opportunity to chair the LME and to work so closely with the people who play such a key part in the functioning of global markets.
“The LME plays a crucial role in a vital industry and we have achieved some great wins, particularly on sustainability, new tech infrastructure and diversity and inclusion. I’m immensely proud of the leadership we showed with LMEpassport, which has put the LME at the forefront of responsible sourcing, transparency and modernisation.”
Laura M Cha, HKEX chairman, said: “On behalf of the Group, I would like to thank Gay for her committed leadership as chair of LME. We are very pleased that she will continue to stay as an advisor once a new Chairperson is appointed, supporting the ongoing development of the Group’s global commodities strategy.”
LME chief executive, Matthew Chamberlain, said: “I would like to thank Gay for her support and partnership over the last three years. Together, with the board and management team, we are fully focused on driving our business and our market forward, ensuring that we remain responsive to the broad needs of our diverse customer base and a vital and relevant pricing, trading and risk management centre to the global metals industry.”
