Xavier Rolet, the chief executive of the London Stock Exchange, has stepped down from the board of Turquoise amid a management reshuffle at the alternative share trading venue. The changes come as the LSE awaits the verdict of an employment tribunal being brought against the exchange by Turquoise's former chief executive Eli Lederman over the nature of its acquisition last year.

The LSE said today that current Turquoise chief executive David Lester would replace Rolet as chairman of the platform, while current chief operating officer Adrian Farnham would step up as CEO.