CEO Thomas Kloet to Retire from TMX Group Limited
March 17, 2014 (TORONTO) – TMX Group Limited today announced that Thomas Kloet, Chief Executive Officer, will retire from the company effective August 31, 2014.
Mr. Kloet was appointed Chief Executive Officer of TMX Group Inc., the predecessor of TMX Group Limited, in June 2008 and became CEO of TMX Group Limited in July 2012. He has led the company through a period of significant growth, global expansion, diversification and change, transforming TMX Group into a universal multi-asset class exchange and clearing group.
During his tenure Mr. Kloet has, among his many achievements, overseen the launch of multiple products and services in all areas the business, as well as the expansion of TMX Group's international product distribution through new offices in London, New York, Sydney and Beijing. Under his leadership, TMX Group has also been active in mergers and acquisitions, with Mr. Kloet's initial focus in 2008 being the integration of Montreal Exchange into TMX Group Inc. He was instrumental in leading TMX Group Inc. through the acquisition by Maple Group Acquisition Corporation (now TMX Group Limited), a consortium of 13 of Canada's largest financial institutions and pension funds, in 2012, and the subsequent integration of TMX Group Inc., The Canadian Depository for Securities Limited and Alpha Exchange Inc.
Chuck Winograd, Chair of TMX Group Limited, said: "The Board of Directors wishes to thank Tom for his leadership and many contributions to the organization, and we wish him the very best in his retirement. Tom leaves behind a strong management team who will continue to execute on the organization's growth strategy. It has been gratifying to work with Tom as we managed the transition of the company through a time of change and consolidation in the industry."
Mr. Kloet stated: "It has been my honour to work with an incredibly talented team who devote themselves to managing a company that, unlike any other, plays a unique role in the Canadian economy. We can all be proud of what we have accomplished at TMX Group during my tenure as CEO. The exchange industry has been my passion for more than 30 years, and it has evolved rapidly in recent years. I have been privileged to have had the opportunity to be part of the exciting emergence of TMX Group as Canada's national exchange group and a partner of companies the world over."
The Board of TMX Group Limited has constituted a search committee to identify a successor to Mr. Kloet. That search will involve both internal and external candidates and will begin immediately.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at http://www.tmx.com. Follow TMX Group on Twitter at https://twitter.com/tmxgroup.