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Toronto Stock Exchange CEO Tom Kloet sits for a portrait at the TSX broadcast centre in Toronto on Friday June 28, 2013. It's been nearly five years since Kloet arrived in Canada to head the country's largest stock exchange.In that time, the chief executive of the TMX Group (TSX:X), has faced a weakened economic landscape and a challenging time for those in the stock market business.
Toronto Stock Exchange CEO Tom Kloet sits for a portrait at the TSX broadcast centre in Toronto on Friday June 28, 2013. It's been nearly five years since Kloet arrived in Canada to head the country's largest stock exchange.In that time, the chief executive of the TMX Group (TSX:X), has faced a weakened economic landscape and a challenging time for those in the stock market business.
(Aaron Vincent Elkaim/THE CANADIAN PRESS)

TMX head Tom Kloet to retire this summer

Thomas Kloet, leader of Toronto Stock Exchange owner TMX Group Ltd., is retiring this summer. He announced plans to step down from his post as chief executive officer at the end of August at a board meeting on Monday evening.

No successor has yet been named, but the board has formed a committee to search for a replacement.