An ongoing process of Plus500UK Ltd’s executive leadership change has continued into September, with Yair Lavi, the former Chief Executive Officer (CEO) and Director relinquishing his role and parting ways with the broker, according to a recent regulatory filing.
Earlier this year, Mr. Lavi shifted roles at Plus500UK, taking up the position of Director after a stint as its Chief Executive that began back in late 2013. However, this past April, newcomer Mark Winton inherited the role of CEO at the broker, succeeding Mr. Lavi.
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Mr. Lavi originally joined Plus500UK back in 2013 when he began his tenure as the Chief Executive. Alternatively, Mr. Winton joined the broker in February 2015, subsequently paving the way for his ascension and appointment as its acting CEO. Prior to Plus500UK, Mr. Lavi also worked in several senior roles at Miya Water, Arison Group and PwC dating back to 2008, according to information made public on his LinkedIn profile.
Plus500 has had an eventful H1 2015, which saw a landmark merger and acquisition (M&A) deal with Tedi Sagi’s venture Playtech, who purchased the beleaguered brokerage. The boards of the companies consequently reached an agreement valuing the broker at 400 pence per share in cash back in July, ending an ongoing saga that originated back in February.