Freetrade, Britain's answer to Robinhood, says its CEO is stepping down

Adam Dodds, co-founder and long-serving CEO of British stock brokerage Freetrade, has resigned and will be succeeded by Viktor Nebehaj, the current COO, pending regulatory approval.

Dodds led Freetrade from its early startup phase to becoming an established player in the wealth management sector, boasting 1.4 million users.

Despite facing numerous challenges, including having to lay off 15% of its workforce in 2022 due to economic pressures, Freetrade recently reported its first profitable quarter. Dodds remains the largest individual shareholder with about a 12% stake and plans to continue supporting Freetrade externally.

Nebehaj, set to take over, is optimistic about the company's future, highlighting its first quarter of profit and a strong, sustainable business model.

Seems like a pretty unceremonious ousting. Bravo to Adam for what he achieved