LeapRate has learned that Ran Strauss, co-founder and CEO of leading forex platform provider Leverate, has formally indicated his intention to step down from his CEO role in the coming weeks. A formal search for a new CEO – likely to come from outside Leverate and possibly from outside the FX industry – is now underway.
Strauss plans to remain on Leverate’s Board (and he of course remains a major shareholder), but will relinquish day-to-day running of the company once a suitable replacement as CEO is in place.
Strauss is one of four co-founders who have led Leverate in its growth from a startup with 5 employees seven years ago to a leading player in the forex and social trading platform market, now with more than 150 employees. It seems that, like with many other successful and fast-growing founder-run companies, the time has come to bring in a ‘professional’ CEO to help bring the company to its next stage.
Much of Leverate’s growth in the past year has come, we believe, in the Far East. One of Strauss’s co-founders, Itai Damti, recently relocated to Hong Kong to head Leverate’s new Hong Kong office, assuming the title of MD Asia-Pacific at Leverate.
Leverate’s founders also recently bought back the 25% stake which Saxo Bank had purchased in the company back in 2011.
Ran Strauss commented:
It has been a very hard decision for me personally that I have been considering for a while. On one hand I have overseen the strong growth of Leverate to a point of maturity, I see that if there is a time to take a step back, it is now. On the other hand I have committed myself 24/7 to the day to day management of the company for seven years and wish to hand over the reins. Leverate remains firmly in my blood and I will continue to be a shareholder and board member – I am very proud of what we have managed to achieve.
Doron Cohen, Chairman of the Board and Strauss’s Leverate co-founder commented,
Four of us started this journey together and remain close as the company has grown to over 150 employees in four offices around the world. Ran’s commitment has been a major factor in this growth. In the coming weeks, we hope to announce a new CEO who will continue the work we have started at Leverate.