"But there may have been other times when previous chairmen have done so," he added.

He's probably got more grass-roots experience than any previous chairman.

Richard Kogan, the company's previous chairman and chief executive, declined to be interviewed.

Stevens, 58, has the boxing knowledge that previous chairmen have lacked.

My first impression was how well everything runs and in saying that I really am paying a tribute to previous chairmen.

Gedalio Grinberg, the previous chairman, said the company could not sustain such losses.

There was a previous chairman, Francesco Gallo; he remains a director.

Mr. Allen's background is as solid as that of any previous chairman.

As a previous chairman of the exchange, he had long considered the chairman's role as a public service, they said.

And her husband George, a previous chairman, plans to organise a petition in a bid to overturn the decision.