Climate Impact X, a global carbon market solutions provider, is set to welcome Oi-Yee Choo as its new Chief Executive Officer (CEO), effective 21 October 2024. Her appointment follows an extensive global search by the company’s Board to identify a visionary leader with the strategic and commercial acumen needed to drive CIX’s next phase of growth.

Oi-Yee will take over from interim CEO Mark Glossoti, who stepped into the role on 1 July 2024 to ease the search process and will now return to his role as Chief Operating Officer. Mikkel Larsen, CIX’s CEO until July, will continue serving on the Board as an Executive Director during the transition.

Oi-Yee is a seasoned business leader with 25 years of experience in financial markets. She has built and led high-performing businesses across sectors, with a proven track record in fintech, innovation and capital markets.

Oi-Yee was most recently CEO of ADDX, a blockchain-based private capital markets exchange in Singapore licensed and regulated by the Monetary Authority of Singapore. Under her leadership since 2020, ADDX strengthened its partnerships with global blue-chip companies and grew its platform to surpass US$1 billion in tokenised securities, one of the largest worldwide. Prior to ADDX, Oi-Yee spent over 20 years in investment banking, leading major capital markets transactions for clients across Asia, Europe and the US. She has held leadership roles at Citigroup, Morgan Stanley, Nomura and UBS.

Appointment of Claire O'Neill as Board Chair

CIX also announced that Claire O'Neill, a member of its Board since 2022, will assume the role of Board Chair, effective 1 November 2024. This transition marks a strategic shift from the rotational chairperson system previously in place. Claire takes over from Bill Winters, Group Chief Executive of Standard Chartered and the current Board Chair.

Claire brings a wealth of experience spanning over three decades in both the private and public sectors. A former UK minister and today a global expert on sustainability and decarbonisation, her expertise in policy, international business development, and her extensive global network, will continue to play a pivotal role in shaping CIX's strategic direction.

Claire was a UK Member of Parliament from 2010 and Minister of State for Energy and Clean Growth from 2017, where she played a key role in the acceleration of the country’s decarbonisation strategies. She left politics in 2020 to join the World Business Council for Sustainable Development (WBCSD), the world’s leading corporate sustainability organisation.

The appointments represent a natural evolution for CIX, offering a balanced leadership that combines regional expertise with a truly global outlook. As CEO, Oi-Yee will also be appointed to the CIX Board as a Director when she assumes her new role.

Bill Winters, Group Chief Executive, Standard Chartered and current Chair of the CIX Board, said, “The Board would like to thank Mark for leading CIX during the search for a CEO and for ensuring the business maintains its momentum during this period of transition. We are excited to welcome Oi-Yee, who brings a track record of success in leadership roles, strong commercial acumen and exceptional experience in scaling high-performing businesses. Her fresh perspective, combined with a deep understanding of fostering robust ecosystems, will be instrumental as CIX enters its next phase of growth. I am also delighted to pass the baton to Claire. Collectively, Oi-Yee, Claire and the CIX leadership team offer highly complementary expertise and skills, which will no doubt amplify the capabilities that already exist within the company.”

Oi-Yee Choo, CIX’s incoming CEO, said, “This is a pivotal moment for global net zero efforts and CIX is uniquely positioned to drive meaningful change. Our focus on building trust in carbon markets will help unlock their full potential, channelling vital finance into impactful climate action projects and creating transparent markets that benefit businesses, communities and the environment. Throughout my career, I’ve never seen climate change and sustainability discussed as urgently in boardrooms as in recent years. Leading CIX at this transformative time is incredibly exciting. I look forward to working closely with Claire, the Board and the talented team at CIX to ensure a smooth transition. Together, we will build on the strong foundations already in place, ensuring continuity while positioning CIX for future growth.”

Claire O'Neill, incoming Chair of the CIX Board, said, “I am delighted to accept the role of Board Chair for CIX. I joined the Board of CIX in its early stages as I was impressed by the company’s strategy, team and shareholder commitment. While the global carbon markets have faced growing pains, I believe we are at an inflection point. There are emerging positive signs that point to a growing market, such as clearer standards for quality via the work of the ICVCM and maturing regulation to guide high-integrity use—all of which inspire confidence. I have witnessed firsthand CIX’s great progress with its focus on high-quality credits and buyer services, and look forward to working with Oi-Yee, who has a brilliant track record, to grow the company further and deliver lasting value for all our stakeholders.”