Winds of change at fxstreet - the CEO steps down to drive change at the company

fxstreet is one of the largest portals in the Forex market and was established a little over 10 years ago. In the past few years however it suffered from increased competitive landscape (similar to same trend with more established brokers) and did not grow as fast as expected.

Francesc Riverola headed the company since inception however in the past few years the executive team has gradually delegated more power to the future management and now Francesc announced plans to withdraw and transfer the CEO seat to someone fresh as he considers the company to be ready for that. Carolina May, the former head of Marketing at the company, will now be taking over and managing the company from Argentina. Francesc and his two founding partners will be stepping down from their executive roles and taking board roles. Francesc will become President of the company and will continue representing the company. His focus will be on new, non core, projects such as the FXstreet's social network site (forexstreet.net) and other projects we should soon hear about.

It will be interesting how this affects the company's growth going forward, certainly since this market is mainly marketing driven it makes sense for someone marketing oriented to take over the CEO seat.