Plus500 CEO Asaf Elimelech steps down, COO David Zruia to take over

Online trading platform Plus500 Chief Executive Officer Asaf Elimelech has resigned from his position. Elimelech has given his 12-month notice and will continue with the company to assist the transition alongside the interim CEO, David Zruia, until a permanent replacement is appointed.

During the 12-minth transitional period Elimelech will serve as a director of certain Group’s subsidiaries.

Chief Operating Officer David Zruia will take the position of interim CEO temporarily along with his existing responsibilities and will join Plus500’s Board until a successor is selected.

The Nomination Committee of the Board have begun the process of appointing a new CEO and will review candidates from inside and outside the company.

Plus500 office

Elimelech joined Plus500 back in 2012 and undertook his role as CEO in 2016. He steps down after over years at the helm, having navigated the company through turbulence and regulatory changes.

Penny Judd, Chairman of Plus500, commented:

Penny Judd, Chairman of Plus500

Asaf Elimelech has been a significant part of Plus500’s success in recent years; we thank him for his contribution and wish him well for the future.

The Board believes that David Zruia is well qualified to act as Interim CEO during the transition period; he is an experienced manager with a deep understanding of the business who has demonstrated sound leadership during his time with Plus500.

We look forward to making a permanent CEO appointment as soon as possible and are confident that we will find a suitable candidate to lead the business and further its success.

Elimelech leaves the company in a strong place with a good performance in the three-month period. In the beginning of the month, Plus500 reported significant Q1 revenues and earnings with increased levels of customer trading activity and strong performance across all key financial and operational KPIs.

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