TMX Group chief executive Tom Kloet to remain in charge after Maple takeover - InfoNews

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TMX Group chief executive Tom Kloet to remain in charge after Maple takeover

Tom Kloet, CEO of the TMX Group, poses for a photo in Toronto on April 21, 2011. THE CANADIAN PRESS/Chris Young
July 12, 2012 - 10:27 AM

TORONTO - TMX Group (TSX:X) chief executive Tom Kloet is going to remain in charge of the company that runs the Toronto Stock Exchange after Maple Group Acquisition Corp. takes over later this year.

The consortium of banks, pension funds and investment firms says Kloet will be named CEO of Maple if enough shareholders tender their shares to the takeover offer by a deadline at the end of the month.

As well, Kloet will be joined by his executive team at TMX who will also be named executives at Maple, which expects to change its name to TMX Group Ltd. in August.

Maple cleared its last major regulatory hurdles Wednesday when securities regulators in B.C. and Alberta signed off on its takeover of the TMX Group.

Regulators in Ontario and Quebec, as well as the federal Competition Bureau, approved the deal earlier this year.

News from © The Canadian Press, 2012
The Canadian Press

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