Temasek-backed carbon exchange appoints new CEO after six-month search
Choo Oi-Yee, lately of private market exchange ADDX, assumes the CEO role on Oct 21
CLIMATE Impact X, a Singapore-based carbon exchange, has appointed Choo Oi-Yee to take its helm.
This comes almost six months after it announced the resignation of its former chief executive officer, Mikkel Larsen.
Choo, most recently the chief executive officer of private market exchange ADDX, assumes her new role on Oct 21, said CIX in a statement on Tuesday (Sep 17).
It said: “Her appointment follows an extensive global search by the company’s board to identify a visionary leader with the strategic and commercial acumen needed to drive CIX’s next phase of growth.”
Choo takes over from Mark Glossoti, who was appointed interim CEO on Jul 1 to ease the search process. He will return to his previous role as the exchange’s chief operating officer.
Larsen, who resigned from his role as founding CEO to focus on his family, will continue to serve on its board as an executive director during this period of leadership transition.
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CIX noted that Choo has 25 years of experience in financial markets, “with a proven track record in fintech, innovation and capital markets”.
Under her leadership at ADDX, the value of tokenised securities on the alternative investments platform grew to over US$1 billion. Before that, she spent more than 20 years in investment banking and held leadership roles at Citi, Morgan Stanley, Nomura and UBS.
CIX also announced that its board will have a new chairperson from Nov 1, as the position is made permanent. The chairmanship was previously regularly rotated among members of the board.
Claire O’Neill, who has been a board member since 2022, takes over the chair from Bill Winters, chief executive officer of Standard Chartered.
She was a former minister in energy and clean growth in the United Kingdom and is currently the managing director of the World Business Council for Sustainable Development, a corporate sustainability organisation.
CIX said: “Her expertise in policy, international business development and her extensive global network will continue to play a pivotal role in shaping CIX’s strategic direction.”
Both appointments represent a natural evolution for the Temasek-backed carbon exchange, in that they offer a balanced leadership that combines regional expertise with a truly global outlook, said the statement.
Choo will be appointed to the board as a director after she assumes her new role as CEO.
CIX is a joint venture funded by DBS, Standard Chartered, SGX and GenZero, a decarbonisation-focused investment platform founded by state investor Temasek.
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