TMX Group Inc. today announced that Peter Krenkel, President of NGX, a leading North American energy exchange and wholly-owned subsidiary of TMX Group, will retire at the end of 2012.
Mr. Krenkel will remain as President of NGX and a member of TMX Group's Executive Committee until his retirement date at the end of next year. Mr. Krenkel has been President of NGX since its inception in 1994; he joined the TMX Group leadership team when NGX was acquired in 2004.
Tom Kloet, CEO of TMX Group, made the following comments:
“Peter has been an incredible asset to the company and a key contributor to our success in the energy sector. I look forward to working with him over the next year to ensure the continued expansion of one of the most liquid, secure and efficient environments available for energy trading and clearing. With over a year to go before Peter's well-earned retirement, we will take the time to manage a smooth and seamless transition for the company and for our customers.”
TMX Group has not yet appointed a successor to Mr. Krenkel. A comprehensive search of internal and external candidates will take place over the coming months.