A living thread once again....
<snip>
newswire.ca
-
Canada NewsWireGive us your message. We'll give you the world.
-
OSC - Re: Resignation of Rowland Fleming
TORONTO, April 19 /CNW/ - The Ontario Securities Commission today
responded to the announcement by the Toronto Stock Exchange of the resignation
of Rowland Fleming as President and Chief Executive Officer.
''Rowland Fleming has championed the need for change because of the
competitive pressures faced by traditional stock markets in this country,''
said David Brown, Chair of the Ontario Securities Commission. ''I think
Rowland has done us all a great service by advocating in this regard. The
momentum which we now have is due in no small measure to his determination to
re-position both the TSE and the other market providers.''
The Toronto Stock Exchange, while subject to regulation by the
Commission, is a member-owned entity. Identifying a replacement for Mr.
Fleming is the responsibility of the Board of Directors of the TSE. Barbara
Stymiest, Chair of the Toronto Stock Exchange, is confident that the
management structure in place during the interim period will assure
continuity, particularly on the projects of greatest concern to the OSC and
other Canadian Securities Administrators, such as follow-up on the 'Blueprint
for Success', the re-alignment of the businesses of the exchanges and becoming
Year 2000 ready.
''Very positive expectations have been created following on the
announcements of these initiatives and it will be very important that neither
time nor momentum be lost while the TSE undergoes a change in leadership,''
said Mr. Brown. ''We all appreciate the importance of selecting the right
candidate to lead Canada's largest exchange into the new millennium. I have
every confidence that the TSE Board will manage this transition while keeping
these projects on track.''
-30-
For further information: John A. Geller, Q.C., Vice-Chair, Ontario
Securities Commission, (416) 593-8229 |
