Daniel King leaves Plus500 after nine years

abdelaziz Fathi

Israel-based, but London-stock market listed Plus500 has parted ways with its long-serving Non-Executive Director and External Director Daniel King.

Plus500

Having been a member of the board since the company’s IPO in 2013, King notified Plus500 of his intention to step down from his position at the earlier of the next annual general meeting.

Ending his maximum nine-year term, he part ways with the board, as well as his position as chair of the Remuneration and ESG Committees. Anne Grim will take over this role.

“After 9 years with Plus500 I will be stepping down as a Non-Executive Director as local law only allows me to serve 9 years. I joined in 2013 just prior to our IPO on the AIM market where we listed with a market cap of $200m. Fast forward to 2022 and today we are a FTSE 250 company with a market cap of $2B. I am truly grateful to have been given the opportunity to join the company back in 2013, and am honoured and privileged to have worked with the most amazing exec team, board and advisors – past and present, and the company and people will always be a big part of my life. I wish the company much continued success and will now be cheering them on from the sidelines. It’s a goodbye but not a farewell,” Daniel King comments on his departure.

Plus500, the former sponsor of Atlético de Madrid, announced recently several changes and nominations to its board of directors and related committees.

Prof. Varda Liberman joined Plus500 as a non‐executive director to the Audit Committee and Regulatory and Risk Committee. She holds a Ph.D in Mathematics from Tel Aviv University, and has been a leading scholar and lecturer for over two decades.

In addition, Ms. Liberman held a variety of managerial positions. Her principal areas of focus were healthcare, banking, investment, technology, the judicial system and the Israeli Defence Forces.

Israeli-based, but London-stock market listed Plus500 said last month it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Plus500’s board now expects FY 2022 revenue and EBITDA to be ‘significantly’ ahead of current compiled analysts’ consensus forecasts, which were recently upgraded following the company’s Q1 2022 results. It added that its financial position remains “very robust” and the group continues to be debt-free, with healthy cash balances driven by high levels of cash generation.

In April, the group reported that its revenue between January and March were $271 million, up by almost two thirds from $161 million in the fourth quarter of 2021.

 

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