Former London Stock Exchange boss praises Sarkozy for his attack on Russia sanctions Business

Last week, the Institute of Directors said it was “no longer tenable” for prominent British figures to hold board positions at Russian companies, saying they had a “moral duty to defend the fundamental values ​​of freedom and democracy”.

Asked about the IoD call, Mr Rolet said he was not British.

In recent days, Lord Barker, the former energy minister, bowed to pressure and announced he would step down as executive chairman of EN+, the aluminum company partly owned by oligarch Oleg Deripaska.

Mr. Rolet joined PhosAgro’s board of directors in 2018 and became its chairman in May 2019. The company is one of the largest fertilizer producers in the world. Russian businessman Vladimir Litvinenko holds a 21% stake.

Shares in the company were suspended by the LSE along with other Russian stocks to preserve market stability. Mr Rolet was paid over £325,000 for the role in 2020.

He ended his statement, which he posted on LinkedIn, by calling for a “global governance” regime.

He said, “Hasn’t the time finally come for a new effective global governance to address issues threatening life and civilization such as peace and security, global pandemics, climate change, transition energy, financial and economic stability and prosperity?

Mr Rolet was chief executive of the London Stock Exchange until 2017, when he resigned amid a power struggle within the board. He was a vocal opponent of Brexit ahead of the European Union referendum, warning it would put 100,000 jobs across the city at risk. This turned out to be incorrect.

He added: “I have already publicly shared my views on the horrific tragedy unfolding in Ukraine and the need for de-escalation and a peaceful resolution through diplomacy rather than unlawful military action.” .