Climate Impact X (CIX), a global carbon market solutions provider, has appointed Oi-Yee Choo as its new Chief Executive Officer (CEO), effective 21 October 2024. The decision follows a thorough global search conducted by the company’s Board, seeking a leader with the vision and expertise to propel CIX’s next phase of growth.
Choo will succeed interim CEO Mark Glossoti, who took on the role in July 2024 and will now return to his position as Chief Operating Officer. Mikkel Larsen, CIX’s former CEO until July, will remain on the Board as an Executive Director during the leadership transition.
With over 25 years of experience in financial markets, Choo has demonstrated her leadership abilities across various sectors, particularly in fintech and capital markets. She was previously CEO of ADDX, a Singapore-based blockchain private capital markets exchange. Before ADDX, she held senior roles at major investment banks, including Citigroup, Morgan Stanley, Nomura, and UBS.
Additionally, CIX announced the appointment of Claire O’Neill as the new Board Chair, effective 1 November 2024. O’Neill, who has served on the Board since 2022, succeeds Bill Winters, Group Chief Executive of Standard Chartered, marking a shift from the company’s previous rotational chairperson system.
O’Neill brings decades of experience in both the public and private sectors, including her role as the UK’s Minister of State for Energy and Clean Growth, where she helped drive the country’s decarbonisation efforts. Since leaving politics in 2020, she has worked with the World Business Council for Sustainable Development (WBCSD).
These leadership changes represent a strategic evolution for CIX, combining regional expertise and a global perspective to further advance its mission in the carbon market. Oi-Yee Choo will also join CIX’s Board as a Director when she assumes her CEO role.
Bill Winters, Group Chief Executive, Standard Chartered and current Chair of the CIX Board said, “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. 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.”