Climate Impact X (CIX), the Singapore-based carbon exchange, has appointed Choo Oi-Yee as its new chief executive officer, concluding a six-month global search for a successor. Ms. Choo, formerly the CEO of private market exchange ADDX, will officially take on her role on October 21, according to a statement issued by CIX.
The appointment follows the resignation of CIX’s founding CEO, Mikkel Larsen, announced earlier this year. Mr. Larsen stepped down to focus on family commitments but will remain actively involved in the organisation, continuing to serve as an executive director on the board during the leadership transition.
CIX’s board highlighted the rigorous nature of the search for a new CEO, which sought a visionary leader with the strategic expertise to guide the carbon exchange through its next stage of growth. “Her appointment follows an extensive global search by the company’s board to identify a leader with the strategic and commercial acumen needed to drive CIX’s next phase of growth,” the statement said.
Ms. Choo brings with her 25 years of experience in financial markets, with a notable track record in fintech, innovation, and capital markets. During her tenure at ADDX, the value of tokenised securities on the platform exceeded US$1 billion. Prior to her leadership at ADDX, Ms. Choo held senior positions in investment banking at Citi, Morgan Stanley, Nomura, and UBS.
Interim CEO Mark Glossoti, who stepped into the role on July 1 to facilitate the transition, will return to his previous position as chief operating officer.
In a related move, CIX also announced that Claire O’Neill, a former UK Minister for Energy and Clean Growth, will take on the role of chairperson starting November 1. Ms. O’Neill, who has been a board member since 2022, is currently managing director of the World Business Council for Sustainable Development. She will succeed Standard Chartered CEO Bill Winters, who had held the chairmanship on a rotating basis. CIX’s statement praised O’Neill’s expertise in policy and international business development, noting that her global network would be invaluable in shaping the company’s strategic direction.
The appointments of Ms. Choo and Ms. O’Neill are seen as a natural progression for CIX, enhancing its leadership team with a combination of regional expertise and a global outlook. Ms. Choo will also join the board of directors after formally assuming her duties as CEO.
Climate Impact X is a joint venture backed by DBS Bank, Standard Chartered, Singapore Exchange, and GenZero, a decarbonisation investment platform funded by Temasek, Singapore’s state-owned investment company. The exchange focuses on developing transparent and liquid carbon credit markets to support the global transition to a low-carbon economy.