AxeTrading founders step back from management

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AxeTrading has announced that the founders of the firm, together with other members of the Board, have agreed that in order to address “the significant market opportunities that lie ahead, AxeTrading will make changes to its senior management team. This will involve the founders stepping back, key staff being promoted, and some new senior management hires.”

As part of this process, Ralf Henke has stepped down as CEO. The other two co-founders Mark Watters and Dinos Daborn will also be stepping back from their roles within the company. The founders will be working closely with Mark Cappell, the executive chairman, and other senior managers to complete the handover process to the new management team.

The founders, Watters, Daborn and Henke said, “As founders of AxeTrading we have appreciated the support of, and would like to thank our employees, our clients, and our investors that have brought the company this far. With great opportunities ahead, we and key investors have created a governance structure that will best suit the company’s needs over the next few years. As part of that we have agreed to step down from the Board and in due course will also cease to be employees. We remain substantial and committed shareholders in the company we created, and will continue to actively support its ongoing successful development.”

“The Board recognises the immense commitment and vision of the Founders in bringing the company from an idea to employing nearly 80 people serving a global customer base, with revenues increasing by 60% last year. We are grateful that they agree the time has come for the Founders to step back from the operational aspects of the business, and we welcome their ongoing support as we drive the company to greater success.” Cappell.

Writing on Linkedin, Daborn wrote, “After 35+ years in the City the time has come to take a step back. It has been an amazing journey from Mexican debt restructuring in the 80s to co-founding AxeTrading over a decade ago. I have met some amazing people, including my very understanding wife, made lifelong friends, and seen a huge amount of change. I would like to thank everyone who has helped me on this incredible journey, especially everyone who has helped make AxeTrading the global company it is today.”