Green Exchange today announced that at its most recent meeting of its Board of Directors it approved the expansion of its current Board composition to include Dr. James Cash, Sir David King, Erle Nye, Daniel Rappaport and Prof. Dr. Fritz Vahrenholt as Public Directors.
These additions increase the number of directors to fourteen. All will join the board as Public Directors.
"We are delighted to welcome the new Public Directors to the Green Exchange Board. The addition of top caliber individuals from the European and North American energy sectors, financial services, the political and academic fields will be central to driving our growth in the global carbon market", said Green Exchange LLC Chief Executive Tom Lewis. "Our Board's experience across a variety of sectors will significantly benefit our strategy to develop innovative solutions to help companies adapt to a carbon constrained world", Lewis added.
Dr. James Cash, Emeritus Professor and Senior Associate Dean of Harvard Business School, spent 27 years with Harvard University Graduate School of Business, serving as both Chairman of the Harvard MBA program and Chairman of Harvard Business School Publishing. He currently sits on the board of directors of General Electric, Walmart, Chubb and several other private companies. Dr. Cash has also previously served on the board of directors for Microsoft and State Street Corporation.
Sir David King is the Director of the Smith School of Enterprise and Environment at the University of Oxford, Director of Research in Physical Chemistry at the University of Cambridge, scientific advisor to UBS and was formerly the UK Government's Chief Scientific Adviser under Tony Blair and Gordon Brown and Head of the Government Office of Science until 2007.
Mr. Nye currently serves as Chairman of the National Infrastructure Advisory Council under the Obama administration. He previously co-chaired the CEO Task Force on Critical Infrastructure Protection under the Bush administration. Mr. Nye is also Chairman Emeritus of TXU Corp. where he previously served as its CEO and President. He also served as Chairman of the Board of Directors of the Edison Electric Institute.
Daniel Rappaport served as a member of the Board of Directors of the New York Mercantile Exchange (NYMEX) from May 2006 through August 2008. During this time, Mr. Rappaport participated in the process that led to a NYMEX IPO and the subsequent acquisition of NYMEX by CME Group.
Prof. Dr. Fritz Vahrenholt is Chief executive of RWE Innogy GmbH, Essen, a division of RWE, Germany's largest power company. Prior to this he served as Chief executive of Repower AG, Hamburg and environmental minister in the state of Hamburg for seven years (an elected position) and was a member of the "sustainability advisory board" to Chancellor Schröder and Merkel from 2001 until 2007.
The Green Exchange LLC, which recently applied for Designated Contract Market (DCM) status to the US Commodity Futures Trading Commission (CFTC) intends, following designation, to list the environmental commodity futures and options contracts that are currently listed, traded and subject to the rules and regulations of the New York Mercantile Exchange (NYMEX).