Company News

Canada's TMX Group says it is looking into past conduct of CEO

TORONTO, Nov 28 (Reuters) - TMX Group is looking into allegations about the past conduct of its chief executive officer, Lou Eccleston, the operator of the Toronto Stock Exchange said in a statement.

Eccleston had informed TMX’s board that “he supports this course of action”, the statement said. A TMX spokesman responded to emails sent to Eccleston, saying the company had no comment beyond its statement.

“TMX Group has recently become aware of allegations made regarding the past conduct of TMX Group chief executive officer Lou Eccleston,” TMX said in the statement late on Tuesday.

A report in the Business Insider outlined accusations of inappropriate sexual conduct by Eccleston, which Reuters was unable to independently confirm, during his tenure at Bloomberg.

Bloomberg couldn’t immediately be reached for comment.

“While TMX Group has no comment on these specific allegations at this time, it takes allegations of this nature seriously, and the TMX Group board is looking into this matter.”

TMX shares closed down 4.7% in Toronto on Wednesday. (Reporting By Nichola Saminather; Editing by Rosalba O’Brien and Neil Fullick)