SBC News Voice of the Sports Betting Industry
Financial spread betting operator IG Group Plc has today announced that Tim Howkins is to step down and as its CEO and director following the company’s Annual General Meeting (AGM) scheduled for October.Peter Hetherington, a Board member since 2002 and currently Chief Operating Officer, will assume the role of Interim Chief Executive, subject to regulatory approval.
The news of Howkins retirement follows IG Group’s full year performance report (12 month period to 31 May) which saw the company record £400 million in revenues up 4.9% on last year’s £388 million performance.
IG Group would record earnings of £193 million in-line with the previous 12 month’s £194 million, the spread betting operator would record that profit after taxation was up from £147.2 million to £150.7 million.
“2015 was another year of good progress on our strategic initiatives, coupled with a solid underlying set of financial results,” Howkins commented on the results
On announcing Howkins planned retirement Andy Green, Chairman of IG, said: “After a long and extremely successful career at IG, as both CFO and CEO, Tim Howkins has informed the Board of his intention to retire.
“Tim’s career at IG has spanned 16 years and he has been part of and led extremely dedicated teams which have built IG from a single office in London to the global leader it is today. Although I have only had the pleasure of working with Tim for the last year, I would like to express my personal gratitude and I’m sure I speak for all the employees at IG, past and present, in wishing him every success in the future.
Tim Howkins thanked IG Group staff and shareholders
“Firstly and mainly, I would like to thank all of IG’s employees, past and present, for their hard work and dedication and for helping to make the last 16 years such an enjoyable and rewarding experience. I would also like to express my gratitude to the clients who have put their trust in IG over the years. I also want to thank the loyal shareholders who put their faith in IG and supported it with their investment”.
