Online forex and CFDs trading company Plus500 Ltd (LON:PLUS) has announced that it is appointing Mrs. Penelope Ruth Judd (née Partridge), as non-executive director of the brokerage. The change to the board of the firm will be effective from the 28th of June 2016.
The move will result in an increase in the number of non-executive directors at Plus500 to a total of four. Penelope Ruth Judd is based in London and will be joining Alastair Gordon, Charles Fairbairn and Daniel King. In addition she will chair the newly formed Risk and Compliance Committee.
Mrs. Judd brings to the Board of Plus500 Ltd (LON:PLUS) 30 years of city experience as a chartered accountant. She has been specializing in compliance, governance, regulation, corporate finance and audits. At present, she is managing director and EMEA head of compliance at Nomura International Plc, but will be relinquishing her position in June 2016 to focus on her portfolio non-executive career.
Before Nomura, Mrs. Judd was managing director and EMEA head of compliance at investment bank UBS.
Mrs. Judd has vast corporate experience with a career spanning across a number of big names in the industry. After starting at KPMG where she qualified as a chartered accountant, she joined the UK Listing Authority to head the Equity Markets Division. In this position, Mrs. Judd was directly involved in the process of admission and regulation of companies to the LSE’s Alternative Investments Market.
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Commenting on the appointment, the chairman of the board of Plus500 Ltd (LON:PLUS), Alastair Gordon, said: “We’re delighted to welcome a non-executive of the calibre of Mrs. Judd to the Board of Plus500. She will be of great value to the Company, and we look forward to benefitting from her guidance as we continue to grow our business.”
Elad Even-Chen Joins Board of Directors
Aside from the appointment of a new non-executive director, Plus500 Ltd also announced the appointment of Mr. Elad Even-Chen as the company’s CFO back in March this year, and he will now also be joining the company’s board of directors. The complementary position will become effective on the 28th of June 2016.
The brokerage’s board will be parting ways with Mrs. Inbal Marom, who has chosen to step down effective from July 1st 2016.
Currently, the CFO of Plus500 Ltd holds two Share Appreciation Rights (SARs) in relation to Plus500 stock. The first is a NIS 500,000 ($128,000) SAR with a base price of £5.20 subject to a maximum cash payout of NIS 2,000,000 ($514,500) and a payout date of 1 January 2017.
The second SAR is with a base price of £3.89 and is for NIS 650,000 ($167,000), it is subject to a maximum cash payout of NIS 2,600,000 ($668,000) and its payout date is the 3rd of January 2018.