Plus500 Promotes CEO of Australian Subsidiary Asaf Elimelech to Group CEO

The co-founder and CEO of Plus500 Gal Haber will be stepping down from his position.

Plus500 has accompanied its 2015 key performance metrics report with an executive reshuffling. The company’s co-founder and CEO Gal Haber will be stepping down after almost eight years at the helm.

Plus500 has chosen an insider to lead the company going forward – Asaf Elimelech will take over the leadership role after several years of heading the Australian operations of the brokerage. Being one of the key growth markets of Plus500 in the aftermath of the IPO, the experience that Elimelech brings to the helm of the company will be a key factor going forward.

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The online brokerage has been focusing on higher revenue clients, however its average revenues per user have actually declined in 2015. With rising costs for acquisition, Plus500 (LON:PLUS) has reported profits shrinking on a year-on-year basis for the first time since the company went public in 2013.

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Shares of the company rallied as the company has surpassed the market’s EBITDA expectations about the final quarter of the year and the full year results.

Gal Haber will retain a role as Managing Director of Plus500. He is one of the original founders of the brokerage along with Elad Ben Izhak, Omer Elazari, Alon Gonen, Shimon Sofer and Shlomi Weizmann.

Aged 39, Haber has brought to the company a raft of experience on the software programming and business development side of the business. Mr Haber was at the center of the development of Plus500’s trading platform which has proven to be one of the key competitive advantages for the business.

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