IG Group CEO to retire after 16 years at online trading firm
IG Group chief executive officer Tim Howkins will retire from his post at the company’s annual general meeting in October.
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Howkins will also step down from IG’s board as a director, the online trading company confirmed on Tuesday.
Following the AGM, Peter Hetherington, currently chief operating officer at IG, will assume the role of Interim CEO, subject to regulatory approval.
Announcing his intention to retire, Howkins said, “After 16 years at IG, seven as CFO and almost nine as CEO, I have informed the board of my intention to retire.”
Thanking the team around him, he noted during his time at the company, he had seen the business transform. “We have grown revenues from £12m to an underlying £400m. In my time as CEO, we have grown earnings per share from 10.88p to an underlying 41.07p, and have gone from less than 10% of our revenue coming from outside the UK to now almost 50%.”
The company, which currently has offices in 20 countries and includes a US regulated exchange and a Swiss Bank, confirmed the selection process for a permanent successor to Howkins was currently underway. Hetherington will be among the candidates under consideration.