Monday, January 6, 2014

[BREAKING: CEO Altai to resign from MSE along with deputy Saruul]

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BREAKING NEWS: Monday, January 6, 2014

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Mogi: hats off to the gents for overseeing MSE’s biggest overhaul since its inception, with the successful transition to LSE’s Millennium IT trading system and the passing of the new Securities Market and Investment Fund laws.

Mongolian Stock Exchange’s Chief Executive, Deputy to Resign

By Michael Kohn

Jan. 6 (Bloomberg) -- The Mongolian Stock Exchange’s chief executive officer and his deputy will resign from their positions on January 15.

CEO Altai Khangai submitted his resignation “some time ago,” he said in a phone interview today, without giving specific information on the timing. The resignation was accepted by the State Property Commission on December 26, he said from the capital Ulaanbaatar. Altai was made CEO in January 2011.

Deputy CEO Saruul Ganbaatar submitted his resignation today after nearly three years on the job, he said in a separate phone interview from Ulaanbaatar.

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Mongolian Stock Exchange CEO submits resignation

January 6 / Local reports say that Kh.Altai, CEO of the Mongolian Stock Exchange (MSE) was dismissed from his position on the decision of the State Property Committee in a meeting just before the New Year. 

Kh.Altai made a statement about the report on the phone; “I was not asked to step down. I submitted a request to resign on my own. The Board of Directors of the Mongolian Stock Exchange (MSE) will hold a meeting to solve the issue. I think I have completed my targeted tasks. I believe that I have done my work to create a legal environment and infrastructure to further develop the stock exchange, so I therefore delivered my request to resign”.

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