- Rakshit Choudhary promoted to co-CEO, partnering with Founder and CEO Jean-Yves Sireau
- Deriv refreshes its leadership model as it gets set to celebrate its 25th anniversary
Rakshit Choudhary, co-CEO of Deriv
CYBERJAYA, Malaysia, April 26, 2024 (GLOBE NEWSWIRE) -- In a significant move for the online trading company, as it approaches its 25th anniversary, Deriv has announced the promotion of Rakshit Choudhary from Chief Operating Officer (COO) to co-Chief Executive Officer (co-CEO). The co-CEO model will capitalise on the different strengths and diverse perspectives of both leaders.
Choosing the co-model is not just a strategic move for Deriv. It lets the organisation incorporate diverse viewpoints and teamwork into critical decision-making to keep the business agile. This double leadership framework also creates an environment where reciprocal respect and shared accountability are standard practices and balances individual autonomy with a collective vision.
Jean-Yves Sireau, Founder and co-CEO of Deriv, said:"Rakshit is a great leader with a deep understanding of Deriv's business, so his move to co-CEO is a natural step forward for us. It is like the synergy you see in pair programming-improved decision-making and better alignment of goals.
"Deriv turning 25 is a moment for reflection. Refreshing our leadership model makes us well-positioned to take on the next phase of Deriv's business, which is focused on expanding globally and engaging more deeply with diverse markets. This dual leadership approach helps keep Deriv innovative and committed to excellent customer service and strong partnerships."
Choudhary, who holds a Master's degree from Georgia Institute of Technology, joined Deriv in 2009 as a Quantitative Analyst and then Head of Quantitative Development & Research. His next role at Deriv was Head of Product Development before his promotion to COO in 2018.
Rakshit Choudhary shared his thoughts on his new role:"I have been lucky to be part of Deriv's incredible growth and evolution for the last 14 years, witnessing firsthand its mission to make trading accessible to anyone, anywhere. At the centre of this is a focus on staying innovative, secure, and accessible. I look forward to continuing to grow Deriv's business globally alongside Jean-Yves, as we take the company into another successful 25 years."
Deriv has also transitioned to a co-CFO model with Jennice Lourdsamy, previously Head of Accounts and Payments taking a double leadership role as co-CFO alongside Louise Wolf, the current CFO. The co-leadership mindset does not end at the C-level. It is practised across Deriv at all levels, in line with the company's values of integrity, competence, customer focus, and teamwork.
Deriv remains committed to its principlesof leadership excellence, marked by clear vision, result-oriented approaches, continuous learning, and a bias for action. These principles are embedded in daily operations and are critical to achieving Deriv's mission of making advanced trading solutions accessible worldwide.
About Deriv
For 25 years, Deriv has been committed to making online trading accessible to anyone, anywhere. Trusted by over 2.5 million traders worldwide, the company offers an expansive range of trade types and boasts over 200 assets across popular markets on its award-winning, intuitive trading platforms. With a workforce of more than 1,400 people globally, Deriv has cultivated an environment that celebrates achievements, encourages professional growth, and fosters talent development, which is reflected in its Platinum accreditation by Investors in People.
PRESS CONTACT
pr@deriv.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a2adfa8-5309-4a67-88cf-69d000020b5a
