IG Groups Chief Executive Officer, June Felix, is departing from her position due to health concerns. Felix, who has been on a medical leave of absence since July, has reached an agreement with the company’s board of directors to step down as CEO and director. Her last day will be September 29th.
The board has initiated the search for a new CEO and anticipates appointing a permanent replacement within the next few months. In the interim, Charlie Rozes will continue in his roles as acting CEO and Chief Financial Officer.
IG Group Chairman Mike McTighe lauded Felix’s leadership, highlighting the company’s enhanced operations under her direction. He conveyed his best wishes for Felix’s recovery and expressed gratitude for her contributions to the company over the past eight years, particularly her service as group CEO for the preceding five years.
During her tenure as CEO, Felix effectively implemented a diversified business strategy while bolstering the company’s core over-the-counter trading operations. This resulted in a doubling of the group’s revenue and profits during her time at the helm.
Felix was named Chief Executive Officer in October of 2018, having worked as a non-executive director since September of 2015. She previously held high-ranking positions at Verizon, IBM, and Citigroup.
“It has been a great privilege to develop and lead such a skilled and driven team over the past nearly five years as CEO of IG Group,” Felix stated. “It is through our combined efforts that we have built a stronger, more varied company. For this, I want to express my gratitude to my management team, all my colleagues, and the IG Group board for providing me with an unforgettable experience.”
In July, IG Group revealed that its net profit for the fiscal year 2023 had declined year-over-year, despite record income.
Total income for the 12 months ending May 31 was £1.02 billion (€1.18 billion/$1.32 billion), a 5% increase from the previous year. This also marks the fourth consecutive year that IG Group has achieved record income, and the first time the company has exceeded £1 billion in income.
The income growth was attributed to a significant increase in interest income, which surged from £800,000 in FY22 to €80.8 million. IG Group stated that this was due to rising market interest rates.