TMX Group Ltd. CEO Lou Eccleston has retired prior to the expiration of his current contract.
Eccleston's contract was set to expire Dec. 31, 2020. The company said he believes it to be in the best interests of the company, its employees and stakeholders for him to retire early. The company named John McKenzie interim CEO, effective immediately. McKenzie will be interim CEO in addition to CFO.
After learning of allegations of misconduct by Eccleston at a previous employer, TMX Group's board conducted an investigation through a special committee and found no evidence that Eccleston engaged in sexual harassment or misconduct while at TMX Group. The board is concluding its investigation into those allegations with Eccleston's retirement "to avoid further distraction to the company," it said in a news release.
Business Insider reported in late November 2019 that "multiple employees" of Eccleston's previous employer, Bloomberg LP, had accused him of inappropriate conduct with female colleagues. Eccleston left Bloomberg in 2002 and was not named as a defendant in any lawsuits by Bloomberg employees.