Plus500 parts way with long-serving director Daniel King

Israel-based, but London-stock market listed Plus500 today announced several changes and nominations to its board of directors and related committees.

Plus500

Prof. Varda Liberman will be joining 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.

Jacob A. Frenkel, chair of Plus500, commented: “We are delighted to be welcoming Prof. Liberman to our Board. Having worked with a number of major international organisations over the years, she brings a significant experience and knowledge of corporate strategy, management decision-making and behavioral economics. Her views and perspectives will provide fresh dynamic to Board discussions and debates, and we look forward to working with her.”

Anne Grim replaces Daniel King

Meanwhile, Daniel King has notified Plus500 of his intention to step down from his position as an Independent Non-Executive Director and External Director, having been a member of the board since the company’s IPO in 2013.

Ending his maximum nine-year term, he will part ways with the board at the earlier of the next annual general meeting, to be held later this year in June 2022.  King will continue to chair the Remuneration and ESG Committees until his departure, at which time Anne Grim will take over this role.

“In June 2022, our long serving Independent Non-Executive Director and External Director, Daniel King, will end his maximum nine-year term. I would like to thank Daniel for his long-standing support and guidance to the Board since the Company’s IPO in 2013 and during an eventful and exciting period since that time. Daniel is, and has always been, a highly effective and engaged Board member who has made significant contributions as Chair of a number of Board Committees over the years,” added Frenkel.

Plus500 said last month its revenues between October and December were $161 million, up by almost 75 percent from $92 million in the fourth quarter of 2020. However, the company wasn’t heading for bumper full-year results as operational and financial performance throughout 2021 was downbeat over a yearly basis.

Plus500, which sponsors Atlético de Madrid, reported its core profit for Q4 2021 at $70.9 million, up 256 percent from less than $20 million it earned in the same period of 2020.

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