London-listed spread betting and CFD provider Plus500 has promoted finance director Elad Even-Chen to the role of group chief financial officer, with incumbent CFO Inbal Marom stepping aside as a result.

Even-Chen has worked for Plus500 for the past four years as finance director and vice president of business development, and will join the board of directors once he takes on his new role. He is a certified accountant in Israel, and before joining the operator specialised in commerce and real estate audit for KPMG.

As a result of Even-Chen’s promotion, Inbal Marom, who has served as group chief financial officer for the past seven years, will move to the position of vice president of finance, allowing her to “continue to make a significant contribution” to Plus500’s finance function, the company said.

It is the latest change in the company’s management team, after chief executive Gal Haber moved to become managing director of the business, allowing chief subsidiaries officer Asaf Elimelech to take over as group CEO in February.

In related news Plus500 non-executive director Paul Boyle has indicated that he will not stand for re-election at the company’s Annual General Meeting, due to be held on May 10th.

Boyle has decided to step down to concentrate on his existing executive role as chief audit officer of multinational insurance company Aviva plc. Plus500 is now looking to replace Boyle with an appropriate candidate, and will make a further announcement in due course.

Shares in Plus500 plc (AIM:PLUS) are trading up 1.03 per cent at 637.50 pence per share in London this morning.


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