Plus500 Promotes Elad Even-Chen as CFO and Seeks New Director

According to regulatory filings dated today by Plus500 Ltd with the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, where the multi-asset online broker is listed on London's AIM under ticker PLUS, the company has promoted Elad Even-Chen to the role of Chief Financial Officer (CFO). He will replace Inbal Maron, who held that position for nearly seven years, and who will now become VP Finance and work alongside Mr. Even-Chen.

Mr. Even-Chen is a certified accountant in Israel having previously worked at KPMG. He serves as the Finance Director and VP Business Development at Plus500 Ltd and is a director of Plus500CY Ltd, and has been with the group for four years. The update mentioned that Mr. Even-Chen may eventually join the board, as part of the new management role.

Finance Magnates received comments from Mr. Even-Chen regarding the new role, he said "I am delighted to take the role of the CFO of Plus500. Plus500 is a successful company with a clear vision and I would be happy to continue to contribute with my experience and financial expertise to promote its success."

"...we are pleased to recognise Mr Even-Chen's contribution to the business and the important role he plays representing the Company to shareholders and the financial markets."

New Director Sought

The company also revealed in the filing that one of its non-executive directors, Paul Boyle, has indicated his intention not to stand for re-election at the company's upcoming annual meeting in May, and will step down to focus on his full-time role at Aviva Plc. The company will be looking for a replacement for the expected vacancy.

Commenting in the filing, Plus500 Chairman Alastair Gordon was quoted as saying: "The board is grateful to Mr. Boyle for his service during a period which has seen significant regulatory challenges, but also strong process on operational business front. His contribution has been of huge value to the business and we wish him every success in the future."

"At the same time we are pleased to recognise Mr Even-Chen's contribution to the business and the important role he plays representing the Company to shareholders and the financial markets," and added regarding the new CFO promotion.

Shares of PLUS on the AIM market last traded at 635 around time of the market open this morning in London.