Chief financial officer departure
RNS Number : 7721D
IG Group Holdings plc
29 October 2015
On 9 August 2015, IG Group Holdings plc ("IG"), a global leader in online trading, announced that Chris Hill had informed the Board of his decision to resign from IG in order to take up the role of Chief Financial Officer of Hargreaves Lansdown plc.
IG today announces that following a smooth handover of Chris' responsibilities to the IG Finance team, it has been mutually agreed that Chris will step down from his post on 30 October 2015. The Board and Chris agree that this is the correct course of action given IG's ongoing progress on its strategic initiative of extending its product offering into unleveraged stockbroking and investments.
The Board and the management team are extremely grateful for the contribution Chris has made to IG over the last four years and for the professional manner in which he has handled his notice period to this point, and wish him every success in the future.
Chris will remain employed by IG until the end of his notice period in early February or to the point he takes up his new role, whichever is sooner, and in either case will receive salary equivalent to his full notice period. IG has placed no restrictions on Chris regarding the timing of his future employment. In line with the terms of his contract, Chris forfeits unvested stock grants.
The search process for a successor to Chris is progressing well and IG will update the market as soon as this has concluded.
IG continues to trade in line with expectations.
For further information, please contact:
Head of Investor Relations 020 7573 0026
Neil Doyle / Ed Berry 020 3727 1141 / 1046
IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets - including shares, indices, forex, commodities and binaries.
Established in 1974 as the world's first financial spread betting firm, IG's aim is to become the default choice for active traders globally. It is an award-winning multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex, and it now offers an execution-only stockbroking service in the UK, Ireland, Germany, Austria and the Netherlands.
It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific, the Middle East and the US, where it offers limited risk derivatives contracts via the Nadex brand.
*Based on revenue excluding FX, published financial statements, July 2014.