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Plus500 appoints Anne Grim to the Board as a Non-Executive director



The Israel-based online trading broker Plus500 announced that Anne Grim is joining the Board as a Non-Executive director. The appointment came after shareholder approval at the company’s annual general meeting (AGM), held yesterday.

Grim brings 30 years of experience in the financial services sector. She has held senior roles at companies including American Express, Barclays and Wells Fargo. Prior to her new position at Plus500, Grim was Chief Customer Officer at Fidelity International. She also currently served as a Non-Executive director of Metro Bank plc, Openwork Ltd and Insight Investment.

Penny Judd, Chairman, commented:

Penny Judd, Plus500
Penny Judd
Source: LinkedIn

I would like to welcome Anne to the Board of Plus500. She is an excellent addition, given her expertise in customer experience, strategic planning and execution, technology innovation and business transformation. We look forward to working with her in the future.

At the AGM yesterday, most resolutions and re-elections looking for shareholder approval were passed.

Plus500 appoints Anne Grim to the Board as a Non-Executive director

However, “Resolution 17” for a bonus for the Group’s CFO Elad Even-Chen was withdrawn. Even-Chen was considered for a significant cash payment reward for ensuring “a significantly reduced Corporation Tax liability” and saving the company more than $100 million. The bonus proposal faced opposition from some of shareholders and Institutional Shareholder Services had recommended that the shareholders vote against it.

The statement said:

While many of the Company's major shareholders were supportive of this achievement and the related resolution, some shareholders had expressed concerns. The Board and the Remuneration Committee consider that a bonus is appropriate given the outstanding efforts of Mr Even-Chen. Consequently, the Company will further engage with these shareholders to ensure their concerns are considered ahead of the resolution being proposed to shareholders again at an EGM to be convened later this year to cover the remuneration of the Company's Directors for 2021 (as the Company is required to do under Israeli Law).

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Plus500 appoints Anne Grim to the Board as a Non-Executive director

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