Interactive Brokers has just announced that the company’s founder and long-running CEO, Thomas Peterffy will step down from his position in the third quarter of 2019. The firm is promoting President Milan Galik to the CEO role.
After his retirement in the third quarter of 2019, Thomas Peterffy will continue as Chairman of the company’s board. The company highlights that the founder of the brokerage will continue to be closely involved in the operations of the firm.
The change is set to coincide with Mr. Peterffy’s 75th birthday.
New CEO Milan Galik
Milan Galik has been with Interactive Brokers for over 28 years. His appointment to the board of directors of the brokerage dates to 2007, when the company became public.
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Commenting on the news, the founder and CEO of Interactive Brokers, Thomas Peterffy said: “I put all my energies into building this Company for the past 42 years and there is nothing I would rather do than work here forever. On the other hand, as I grow older, I must recognize that Milan will do a much better job running the Company than I would.”
In his statement, Peterffy goes on to endorse a new era for Interactive Brokers under the new CEO, Milan Galik. “With him at the helm, the strength of our business and the quality of our platform that delivers our offering will continue to grow as Interactive Brokers becomes the largest broker in the World,” Peterffy states.
While commenting on his promotion, the incoming CEO of Interactive Brokers, Milan Galik elaborates that Petterfy has been preparing him for the leadership transition over the past four years.
“I am lucky to have the support of an amazing executive team, experienced managers and dedicated employees. Together we will continue working on realizing Thomas’ vision for IBKR,” said Galik.