To: Porter Davis who wrote (1336 ) 4/19/1999 7:48:00 PM From: Kitskid Read Replies (1) | Respond to of 1598
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