LONDON: London Stock Exchange Group (LSEG) announces today that Michel-Alain Proch has been appointed Chief Financial Officer and a member of the Board of LSEG plc. Reporting to David Schwimmer, he will join LSEG on 26 February 2024 before joining the Board as CFO on 1 March 2024, subject to regulatory approval.
Following publication of the Group’s 2023 Full Year Annual Results on 29 February 2024 Anna Manz will step down from the Board and leave the Group.
Michel-Alain Proch is currently Group Chief Financial Officer for Publicis Groupe SA where he is a member of the Management Board leading the global finance team across 100 countries. Prior to this, he has held several listed company CFO positions, notably at Ingenico and Atos, where he was also CEO, North America and Group Chief Digital Officer. Michel-Alain is Vice-Chairman of the Board, Maisons du Monde.
Michel-Alain will relocate to London from Paris to take up the role.
David Schwimmer, CEO, LSEG: “I’m delighted to welcome Michel-Alain to LSEG. His deep experience across global, financial infrastructure and IT data solutions firms will be invaluable as we deliver against the next stage of our strategic growth. I would also like to wish Anna every success for her next chapter and thank her for the outstanding contribution she has made to the transformation of LSEG.”
Don Robert, Chair, LSEG: “Anna has been a valued member of the LSEG Board and I would like to thank her for the key role she has played in the successful delivery of the Group’s strategy over the last three years. We look forward to welcoming Michel-Alain to the Board.”
Michel-Alain Proch: “It is an exciting time to be joining LSEG as the Group continues its transformation as a leading global financial markets infrastructure and data provider. I look forward to working with David and the entire team to deliver against our strategy and achieve further value for stakeholders.”
As CFO of LSEG, Michel-Alain will receive a salary of £850,000 with remaining remuneration arrangements aligning to the Remuneration Policy.
Michel-Alain will also be granted buyout awards to compensate for bonus and unvested equity awards forfeited from Publicis Groupe SA. Buyout awards will align with the timing of the forfeited awards. Quantum for the forfeited FY23 bonus and 2021 and 2022 LTIPs will be based on and validated against Publicis Groupe SA performance outcomes. The forfeited 2023 LTIP will be valued based on a market aligned discount applied to the face value of the award. Vesting will not be performance contingent.