Finance Magnates has verified that Viral Tolat is no longer Chief Executive Officer (CEO) of trading technology company TradAir.
One of TradAir’s Co-Founders, Ayal Jedeikin, who was Chief Marketing Officer when Tolat was at the firm, has taken up the role as CEO.
We spoke to Jedeikin on Tuesday, who said that Tolat left his role two months ago.
According to Jedeikin, Tolat remains at the firm as a Strategic Adviser.
Anyone that gets a kick out of gossip will be disappointed to know that the reason behind Tolat’s departure is fairly mundane.
Working out of Florida but dealing with a team based in Israel, Singapore, London, and New York, Tolat was starting work at 3 am every day to ensure he could keep pace with the company he was overseeing.
Logistically, it seems that was not sustainable and Tolat, though remaining an adviser to TradAir, has moved on to pursue other projects.
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Back in August, the Finance Magnates team had some experience of the Herculean task that Tolat undertook at TradAir.
Speaking at the company’s Tel Aviv office, the then-CEO said that he had spent only four days at home in the previous month as he shuffled between New York, London, Tel Aviv, and Singapore.
Jedeikin Back as TradAir CEO
After his departure from the company in September, Jedeikin stepped in to fill the vacant CEO role.
“We are still very fortunate to have Viral as a Strategic Adviser to the board,” said Jedeikin. “But after he left, I – as the founder of the company – stepped in and we continued from that point.”
Jedeikin already has some experience working as CEO.
After Illit Geller, with whom he co-founded the firm back in 2010, left the company in mid-2017, Jedeikin was acting CEO until Tolat was hired in March of this year.
On this occasion, the company is not – at least for the moment – going to be looking for another CEO.
Asked if we could expect to see a replacement for him in the near future, Jedeikin said that he is going to stay in his current role as CEO indefinitely.