LONDON - The London Stock Exchange Group (LON: LSEG ) has announced the appointment of Michel-Alain Proch as its new Chief Financial Officer (CFO), set to take office on March 1, 2024. Proch will also join the LSEG board on February 26, succeeding Anna Manz, who will depart following the disclosure of the Group's full-year financial report on February 29.
Proch comes to LSEG with a rich background in financial leadership, including his current role as CFO for Publicis Groupe. His career spans significant positions such as Atos' North America CEO and Group Chief Digital Officer, and finance head at Ingenico. Additionally, Proch holds influential roles across various organizations, including vice-chairman at Maisons du Monde, Managing Director at Canopy The Open Cloud GmbH, and Chairman positions at Multi Market Services France Holdings SAS, Worldline Propco, Swelg Holding AB, and MMS Italy Holdings Srl.
LSEG CEO David Schwimmer expressed confidence that Proch's extensive experience will be integral to LSEG's strategic growth initiatives. Proch's educational background includes an undergraduate degree from Ecole Supérieure de Commerce de Toulouse and a graduate degree from Toulouse Business School. His expertise covers a broad range of sectors within global financial infrastructure and IT data solutions.
The transition comes after Anna Manz announced her intention to leave for a non-finance industry role earlier on May 25, 2023. Manz's tenure saw her contribute significantly to LSEG's operations, and her departure marks the end of an era for the Group.
With the appointment of Michel-Alain Proch, LSEG aims to continue its trajectory of growth and innovation within the global financial market landscape.
As the London Stock Exchange Group (LSEG) welcomes Michel-Alain Proch as its new CFO, InvestingPro provides some key insights. According to InvestingPro, LSEG has a high earnings quality, with free cash flow exceeding net income. This indicates a robust financial health that could potentially be further strengthened under Proch's leadership. Another InvestingPro Tip to note is that LSEG has raised its dividend for 8 consecutive years, demonstrating a consistent return for its shareholders.
In terms of real-time data, InvestingPro reveals that LSEG has a market capitalization of 57630.24M USD and a P/E ratio of 42.01 as of Q2 2023. The company's revenue for the last twelve months as of Q2 2023 stands at 10397.11M USD, indicating steady financial performance.
InvestingPro, with its comprehensive financial tips and real-time data, is an invaluable tool for investors and financial enthusiasts. Currently, InvestingPro houses numerous other tips and data points for LSEG that can provide an even more detailed overview. As part of their Black Friday sale, subscriptions to InvestingPro are now available with a discount of up to 55%.
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