TradAir, the provider of cloud-based trading technology solutions, just announced that Illit Geller, co-founder and Chief Executive Officer, has decided to step down from her role. She will remain a member of the company’s board of directors, and the board has launched a search for a new CEO.

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TradAir co-founder Ayal Jedeikin will lead the company, along with other members of the senior executive management team, until a new CEO is found.

“Over the past seven years, Illit has done a remarkable job building TradAir from a nascent start-up into an industry-leading FX technology provider,” said Jim Brown, board member and the Managing Partner of Long Ridge Equity Partners. “Under her leadership, TradAir successfully built a cutting-edge technology platform for liquidity and market surveillance, and signed major bank and brokerage customers across the globe. Given the Company’s clear path forward, now is the best time to transition leadership for the Company’s next phase of growth,” said Brown.

“We thank Illit for her tremendous service to the Company,” said Avi Zeevi, board membe and co-founder and General Partner of Carmel Ventures. “Illit is an amazing entrepreneur, and she has made significant contributions to the FX trading technology industry. This is an exciting time for TradAir as we experience significant growth with both new and existing customers. As the Company enters this new chapter, I am very pleased that we will continue to benefit from Illit’s insights and counsel in her capacity as a Board member.”

Illit Geller stated: “It’s been my honor and privilege to work with TradAir’s talented team of engineers, sales professionals and capital markets technologists who have helped the Company become a true market leader. I’d like to thank my team for their hard work, loyalty and commitment; I am extremely proud of what we have accomplished. While I believe it’s the right time for me to step aside, TradAir is exceptionally well positioned for future growth. I look forward to working with the Company as a Board member and contributing to its continued success and market leadership.”