TORONTO — TMX Group Ltd. says chief executive Lou Eccleston is stepping down immediately following allegations againt him in late November related to conduct prior to his time at the company.
The website Business Insider has reported Eccleston was accused in court records and filings with the New York Division of Human Rights of inappropriate behaviour involving female employees while he was a senior executive at Bloomberg.
TMX’s board of directors says that an investigator found no evidence that Eccleston engaged in sexual harassment or sexual misconduct while employed at TMX, which owns the Toronto Stock Exchange and other market operators.
TMX says the board is concluding the investigation into the allegations to avoid further distraction.
John McKenzie will immediately step into the role of interim CEO while continuing with his role as chief financial officer as the company launches a search for a replacement.
Eccleston, whose contract at TMX was set to expire at the end of 2020, had been in the role since October 2014.
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