TMX Group Names James Oosterbaan to Head NGX
TMX Group Limited appointed James Oosterbaan as President of Natural Gas Exchange Inc. (NGX). NGX, a wholly-owned subsidiary of TMX Group, provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets. Mr. Oosterbaan will assume this position on November 1, 2012 and will be based in Calgary, Alberta.
“We are very pleased to have attracted an executive with Jim’s experience and reputation to NGX,” said Tom Kloet, Chief Executive Officer of TMX Group. “Jim brings deep industry knowledge and a track record of success in the energy markets, including natural gas and electricity. He is both a hands-on operator and a successful leader, which is exactly what we need to serve our clients with excellence and identify growth opportunities for the future.”
“I am excited to be joining NGX and the TMX Group team. NGX is well-respected, an industry-leader and a critical partner to clients across North America,” said Mr. Oosterbaan. “I look forward to building on the success of Peter and his team and to providing new opportunities to deliver even greater value to our clients.”
The appointment of an executive with Mr. Oosterbaan’s experience demonstrates the strategic importance of NGX to TMX Group. For more than a decade, Mr. Oosterbaan has held successive senior executive positions with Capital Power Corporation, most recently as Senior Vice President, Operations and Commodity Portfolio Management, where he had responsibility for the corporation’s generation plants and corporate natural gas, electricity and greenhouse gas offset portfolios. Prior to Capital Power Corporation, Mr. Oosterbaan held senior positions with energy and natural gas corporations with offices in Toronto, Vancouver and Houston. He is currently a Director of the Canadian Chamber of Commerce.
NGX also confirms the previously announced retirement of Peter Krenkel, effective December 31, 2012. Mr. Krenkel has been President of NGX since its inception in 1994; he joined the TMX Group leadership team when NGX was acquired in 2004.
Mr. Kloet added: “I want to reiterate my thanks to Peter for his years of service to the company. His contributions to the growth of NGX since 1994, and of TMX Group overall since 2004, have earned him the gratitude of all of the employees and management of this company. The entire TMX Group team wish him well in his well-earned retirement.”