Co- Chief Executives Named
TORONTO, Jan. 7 /CNW/ - TSX Group Inc. announced today the appointments
of Rik Parkhill, Executive Vice President of TSX Group and President of TSX
Markets, and Michael Ptasznik, Chief Financial Officer of TSX Group as interim
Co-Chief Executives of the Corporation effective immediately.
TSX Group Chief Executive Officer Richard Nesbitt announced his
resignation earlier today to accept a senior appointment at another financial
services company. Mr. Nesbitt has agreed to remain with the organization in an
advisory capacity, and as a member of the Board, until February 27, 2008. The
Governance Committee of the Corporation will identify a permanent successor to
Mr. Nesbitt. The Committee will begin its work immediately.
The interim arrangement announced today is designed to ensure complete
consistency of service delivery and management of the Corporation until the
Board can identify a permanent new chief executive officer. Mr. Wayne Fox,
Chair of the Board, will maintain an active dialogue with the Co-Chief
Executives during this time.
Mr. Nesbitt has been assisted by a seasoned and respected senior
management team and the Board relies on their demonstrated experience and
professional discipline. No changes in responsibilities are contemplated for
members of the senior management team other than those created by today's
appointments to these interim positions.
Bio Rik Parkhill (attached)
Bio Michael Ptasznik (attached)
About TSX Group Inc.
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income
inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Calgary and Vancouver.
TSX Group and Montréal Exchange Inc. (MX) previously announced that they
have agreed to combine their organizations to create TMX Group Inc., a leading
integrated exchange group, by means of an amalgamation. This news release does
not constitute an offer to sell or the solicitation of an offer to buy any
securities of TSX Group. Such an offer may only be made pursuant to a
management information circular filed with or furnished to the securities
regulatory authorities in Canada and the United States in connection with the
proposed amalgamation. MX plans to file a management information circular with
Canadian provincial securities regulators and TSX Group intends to file a
registration statement with the United States Securities and Exchange
Commission ("SEC") which will include the management information circular or
to furnish the management information circular to the SEC pursuant to an
exemption from registration. Investors and security holders are urged to read
the management information circular regarding the proposed business
combination when this document becomes available because it will contain
important information in respect of the proposed transaction. Investors may
obtain a free copy of the management information circular when it becomes
available on SEDAR at www.sedar.com and a free copy of the registration
statement and/or the management information circular when it becomes available
on the SEC's website at www.sec.gov. The management information circular may
also be obtained for free, once it has been mailed to MX shareholders, on MX's
website www.m-x.ca or by directing a request to MX.
TSX Group Management Biography - Rik Parkhill, President, TSX Markets
Rik Parkhill is President, TSX Markets, a division of the TSX Group that
manages the trading business. Mr. Parkhill is also responsible for the
listings business of the Toronto Stock Exchange, Canada's senior equity
exchange. He holds the position of Executive Vice-President, TSX Group and is
a member of the TSX Group's senior management team. He is also a member of the
CanDeal Inc. Board of Directors.
Mr. Parkhill's mandate is to expand the strategic focus of TSX Markets
and the Toronto Stock Exchange by leveraging the competitive position of both
of these businesses into new markets. He plays a key role in identifying
opportunities to create new products and services that meet the needs of the
Mr. Parkhill has more than 20 years experience in the capital markets.
Prior to joining TSX Markets, he was Executive Vice-President, Head of Capital
Markets- Investment Banking at Research Capital Corporation. Mr. Parkhill has
also worked at Jones Heward and BZW Canada, and has held the titles of oil and
gas analyst, head of research, and head of institutional equities.
A graduate of Queen's University, Mr. Parkhill also has experience in
financial management and financial systems administration. In this capacity,
he has worked for several organizations, including the House of Commons.
TSX Group Management Biography - Michael Ptasznik, Chief Financial
Officer, TSX Group
Michael Ptasznik is Chief Financial Officer of TSX Group, which operates
Canada's two national stock exchanges serving the senior equity and public
venture equity markets as well as NGX, a leading North American exchange for
the trading and clearing of natural gas and electricity contracts. He is
responsible for a range of strategic functions including strategic and
financial planning and reporting, corporate development, risk management,
corporate communications and investor relations at TSX Group. He is also a
member of the CanDeal Inc. Board of Directors.
Prior to his promotion to CFO, Mr. Ptasznik held several senior positions
at Toronto Stock Exchange including Vice President, Finance & Administration,
Director, Financial Planning & Analysis, and Director, Finance &
Before joining Toronto Stock Exchange in 1996, Mr. Ptasznik held a number
of positions in Finance at Procter & Gamble Canada Inc. Mr. Ptasznik serves on
the Board of Directors of the Canadian Depository for Securities Limited and
the Finance Committee of the Canadian Capital Markets Association.
Mr. Ptasznik graduated from Wilfrid Laurier University with a
B.B.A.(Honours). He obtained his Certified Management Accountant designation
from the Society of Management Accountants of Ontario in 1992 and in 2007 he
earned the designation of Chartered Director (C.Dir.) from McMaster
For further information:
For further information: Steve Kee, Director, Corporate Communications,
TSX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)