Deriv promotes Rakshit Choudhary from COO to co-CEO
April 26 2024 - 5:41AM
Deriv promotes Rakshit Choudhary from COO to co-CEO
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 principles of 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 CONTACTpr@deriv.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2a2adfa8-5309-4a67-88cf-69d000020b5a