The Board of IFX Group, the financial trading and spread betting company, announces that it has been informed by Chief Executive Edmond Warner of his intention to resign from his position at some point in 2006.
Mr Warner, who was appointed Chief Executive in June 2003, has decided to leave to seek new challenges. During his time at IFX he has overseen a successful restructuring and expansion of the Group, as well as strong growth in its profitability.
The Group has appointed search consultants to recruit his successor. Mr Warner has made it clear that he will undertake an orderly departure, the timing of which will be determined by the Group's progress in recruiting his successor. The Group will update its shareholders in due course.
Adam Mills, Chairman of IFX, said: "IFX is greatly indebted to Edmond for the contribution he has made over the past three years. During his tenure the Group has made significant progress, including the successful expansion of the Finspreads product, the international development of the company into the USA, China and Australia, and the launch of innovative new investment products. It has also enjoyed a strong improvement in profitability, as reflected in the encouraging trading statement released to the market today. Additionally, Edmond has overseen a marked improvement in the Company's risk management and internal controls environment. We are now seeking a new Chief Executive who will continue this excellent work."