London-based IG Group (LON: IGG) announced today (Tuesday) that its Chief Executive Officer, June Felix, has stepped down with immediate effect due to her health concerns. She also stepped down as the Director of the brokerage company.

IG's CEO Steps Down

The decision was made as she has been absent from the company for a couple of months after taking medical leave in early July. Charlie Rozes, the Chief Financial Officer (CFO) at IG, has taken over the apex role, and he will continue to be in charge until a permanent replacement is found.

IG has already appointed Russell Reynolds to search for and hire a permanent CEO and assured that the appointment will be made in the coming months.

"It has been a great privilege to build and lead such a talented, ambitious group of people as the CEO of IG Group for nearly five years," Felix said. "It has been through everyone's collective effort that we have built a stronger, more diverse company. For this, I thank my executive team, all of my colleagues, and the Board of IG Group for an unforgettable period."

A Result-Oriented Executive

Felix joined IG's board in September 2015 as a Non-Executive Director and then assumed the role of CEO in October 2018. Under her stewardship, IG expanded into new markets and products. She also supervised the purchase of tastytrade, a trading platform based in the US, for $1 billion.

Prior to her appointment as IG Group's CEO, she held various senior management roles in New York, London, and Hong Kong. Her previous appointments include the President of Verifone Europe and the Global Head of Banking at IBM. Additionally, she served as a senior executive at Citibank and Chase Bank.

"On behalf of the Board, I would like to extend our best wishes to June as she continues her recovery," said Mike McTighe, the Chair of IG Group.

"We thank her for the significant contribution she has made over the past eight years as a board member and especially as Group CEO for almost five years. During her tenure as CEO the company has successfully pursued a strategy to diversify the business while at the same time strengthening its core OTC business resulting in a doubling of the Group's revenue and profit over the period."