Plus500, an online trading company, has announced today that its Chief Executive Officer, Asaf Elimelech, has decided to step down from his position at the company.
Assisting Until New CEO Gets Appointed
Doing this by the book, he has tendered his resignation from the company and the Board, effective immediately. As it stands now, Elimelech will have a notice period of 12 months, and will continue to work at Plus500 in a transitional role. He will work alongside an Interim CEO until a permanent replacement can be appointed in his stead. This includes the retainment of his roles as a director in select subsidiaries of the Group.
The Board’s Nomination Committee has started the process of appointing a new CEO. The Committee stated that it would consider suitable candidates from both within and without the company.
David Zruia Stepping In
David Zruia, the Chief Operating Officer (COO) of the Group, will take on the role of Interim CEO. Zruia will take this role alongside his day-to-day responsibilities he already has and will join the Board with immediate effect. This will carry on until a permanent CEO has been appointed in the Group.
Penny Judd, the Chairman of Plus500, gave a comment about the matter as a whole. She explained that Elimelech had played a vital role in the success Plus500 has experienced in recent years. As such, Judd explained that the company as a whole thanks him for his contributions, and wishes him well for his future endeavors.
A New Chapter In Plus500
Judd stated that the Board is convinced that Zruia will act as a qualified Interim CEO within this period of transition. As proof. Judd explained that he holds a deep understanding of business, as well as being an experienced manager himself. Judd further affirmed that Zruia had demonstrated the ability of sound leadership within his time at Plus500.
Judd explained that the company is eager to make the appointment of a new permanent CEO as soon as possible. Judd said that the Group is confident that they would find a suitable candidate to lead the business forward and ensure its further success.
In recent times, Plus500 managed to record an incredible 467% increase in Year-over-year revenues for the first quarter of 2020. For the most part, this was attributed to the massive sell-offs and volatility levels that the COVID-19 pandemic has caused throughout the world at large.