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Plus500 managing director Gal Haber steps down



The online contracts for differences (CFD) broker Plus500 announced that its managing director Gal Haber has notified the board of his decision to step down with immediate effect. Haber is also one of Plus500’s co-founders and former CEO of the company.

The Israeli-based broker noted that Haber will continue to provide consultancy services to the company in the future.

The company also announced that its Board is carrying out a selection process with a view to recruiting additional non-executive directors, to broaden its range to diversify its composition.

Penny Judd, Chairman of Plus500, commented:

Penny Judd, Plus500
Penny Judd
Source: LinkedIn

The Board would like to thank Gal for his significant contribution to the establishment and development of Plus500, since the Company’s inception in 2008. Gal played a pivotal role as CEO in leading Plus500 through a successful IPO in 2013. Since then, the Company has built a strong operational and financial track record, with its market capitalisation increasing from approximately $200m at that time to approximately $2 billion as at the end of FY 2020, along with over $1 billion paid in dividends and share buybacks to the Company’s shareholders. We wish Gal well for the future and we look forward to working with him, on a consultancy basis, going forward.

Plus500 managing director Gal Haber steps down

The directorial change announcement followed a report of strong results for the company for 2020. Plus500 announced a record performance in FY 2020, with revenue expected to reach $872 million (In Q4 2020 the revenue was approximately $91 million). The company plans to publish its preliminary results for the financial year on 17 February.

David Zruia, Chief Executive Officer of Plus500, commented:

David Zruia, Plus500
David Zruia
Source: LinkedIn

In the context of an unprecedented and uncertain market environment, 2020 was an outstanding year for Plus500, during which we delivered a record financial and operational performance. The positive momentum built up during 2020 was driven by the strength and differentiation of our proprietary technology. This was supported by the expertise of our people, who ensured that our customers received a consistently high quality service during the year, and we are extremely grateful to our people for their continued hard work and commitment.

Earlier in December, Plus500 extended its official sponsorship with Atlético de Madrid.

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Plus500 managing director Gal Haber steps down

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