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ADVFN PLC - London-based operator of financial information websites for private investors - Amit Tauman, an executive director, becomes chief executive, effective immediately. Jon Mullins, who had been acting chief executive, reverts to the role of chief financial & technology officer. The changes follow the departure of ADVFN co-founders Clem Chambers and Michael Hodges, who had been CEO and chair, respectively, earlier this year.
Amit Tauman became an executive director back in August when Hodges left the board after 22 years and David Gold became non-executive chair. Major shareholder Yair Tauman back in January had demanded the removal of CEO Chambers from the board,and the appointment of Gold, Amit Tauman and Anthony Wollenberg, all of whom now sit on the board. Yair Tauman currently has an 18% stake in ADVFN, according to Morningstar, while Amit Tauman has an 8% holding.
Current stock price: 45.25 pence
12-month change: down 43%
By Tom Waite; thomaslwaite@alliancenews.com
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