Thomas Kloet, Chief Executive Officer, will retire from the company effective August 31, 2014
CEO Thomas Kloet to Retire from Íâ¹úÃÀŮɫÇéƬ Limited
March 17, 2014 (TORONTO) – Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ Inc., the predecessor of Íâ¹úÃÀŮɫÇéƬ Limited, in June 2008 and became CEO of Íâ¹úÃÀŮɫÇéƬ Limited in July 2012. He has led the company through a period of significant growth, global expansion, diversification and change, transforming Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ's international product distribution through new offices in London, New York, Sydney and Beijing. Under his leadership, Íâ¹úÃÀŮɫÇéƬ has also been active in mergers and acquisitions, with Mr. Kloet's initial focus in 2008 being the integration of Montreal Exchange into Íâ¹úÃÀŮɫÇéƬ Inc. He was instrumental in leading Íâ¹úÃÀŮɫÇéƬ Inc. through the acquisition by Maple Group Acquisition Corporation (now Íâ¹úÃÀŮɫÇéƬ Limited), a consortium of 13 of Canada's largest financial institutions and pension funds, in 2012, and the subsequent integration of Íâ¹úÃÀŮɫÇéƬ Inc., The Canadian Depository for Securities Limited and Alpha Exchange Inc.
Chuck Winograd, Chair of Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ as Canada's national exchange group and a partner of companies the world over."
The Board of Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ (TSX: X)
Íâ¹úÃÀŮɫÇéƬ'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 Íâ¹úÃÀŮɫÇéƬ companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. Íâ¹úÃÀŮɫÇéƬ 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 Íâ¹úÃÀŮɫÇéƬ, visit our website at . Follow Íâ¹úÃÀŮɫÇéƬ on Twitter at .