TMX Group Ltd. says it intends to appoints Luc Bertrand as the new chair of the company's board starting May 2.

Upon Bertrand's election as an independent director at the company's annual and special meeting, Bertrand will replace Charles Winograd, who will retire after serving as chair for more than a decade.

The Toronto-based company which operates the Toronto Stock Exchange says Bertrand has been on the TMX Group board since 2011.

In a statement, Winograd said Bertrand's business acumen, industry knowledge and commitment to strong governance have been assets to the board for years.

TMX Group says before joining the company's board, Bertrand served in a number of high-ranking positions including president and CEO of Montreal Exchange.

The company says Bertrand will also resign as vice-chairman of National Bank as of the annual meeting.