London 25/08/2016 - Former LME CEO Martin Abbott has been appointed non-executive chairman of Ambrian PLC on an interim basis, the company said on Thursday.
Ambrian will now establish a nominations committee, to comprise Charles Davies and Abbott, to lead the process to identify a permanent successor to Robert Adair.
Abbott is also non-executive director for several well-known companies including Mitsui.
Alongside this he is currently examining the possibility of launching an alternative trading platform to the London Metal Exchange amid growing frustration about the higher costs of trading on the LME, which members have publicly stated is making it increasingly tough to do business.
Abbott was CEO of the London Metal Exchange (LME) for seven years - he was at the helm when it was sold to HKEX in the latter part of 2012 for 1.388 billion pounds before stepping down in September 2013.
He also served as editor-in-chief of Metal Bulletin between 2001 and 2006 prior to its 221-million-pound acquisition by Euromoney.
(Editing by Mark Shaw)