18 November 2022
Flow Traders announces that Dennis Dijkstra has decided not to seek reappointment as Chief Executive Officer and member of the Management Board. Mike Kuehnel, currently serving as Chief Financial Officer and member of the Management Board, will become Chief Executive Officer effective 1 February 2023.
Dennis Dijkstra has conveyed to the Supervisory Board his intention not to stand for reappointment to the Management Board at the 2023 Annual General Meeting. Dennis joined Flow Traders as Chief Financial Officer in 2009 and was first appointed Co-CEO in January 2014 and subsequently CEO in May 2019. He has been a member of the Management Board since Flow Traders’ IPO in 2015.
The Supervisory Board has unanimously decided that Mike Kuehnel will assume the role of Chief Executive Officer as of 1 February 2023. Mike was confirmed as a member of the Management Board and Chief Financial Officer in September 2021 having joined Flow Traders in August 2021. As Chief Financial Officer, Mike has been responsible for overseeing the Finance, Investor Relations and Tax functions, as well as the development of Flow Traders’ growth strategy. More recently, Mike has also been responsible for the Risk and Compliance functions. Mike has over twenty years of investment banking and strategy consulting experience in the global financial market infrastructure space.
In order to ensure an effective leadership transition, Dennis will hand over his responsibilities to Mike on 1 February 2023 and remain with Flow Traders in an advisory capacity until the end of April 2023. Mike, together with Folkert Joling, Chief Trading Officer and member of the Management Board, and in conjunction with the newly established global Executive Committee will focus on accelerating the execution of Flow Traders’ strategic growth agenda to create value for all stakeholders.
The Supervisory Board has initiated the search process for a new Chief Risk and Financial Officer.
Rudolf Ferscha, Chairman of the Supervisory Board Flow Traders, commented:
“On behalf of the Supervisory Board, I would like to express our deepest gratitude to Dennis for his fourteen years of dedicated service to Flow Traders and his significant contribution to driving the company to where it is today. Under Dennis’ entrepreneurial leadership, Flow Traders has become one of the world’s leading liquidity providers and completing the successful IPO in 2015 is one of the many highlights of his extensive tenure. Dennis can look back with exceptional pride on his time at Flow Traders and we wish him every success with his future endeavors. We are delighted that Mike will assume the role of Chief Executive Officer. He will, alongside Folkert and the newly established Executive Committee, ensure the delivery of Flow Traders’ ambitious growth strategy.”
Dennis Dijkstra, CEO Flow Traders, added:
“I am incredibly proud to have led Flow Traders since 2014 and to have had the ability to work with such vibrant colleagues. Flow Traders has grown across geographies, asset classes and teams, with the company going from strength to strength on its journey to becoming a next generation global liquidity provider. I am truly privileged to have been part of this incredible success story. I have the utmost confidence in the Management Board and Executive Committee to lead the business through its next phase of development. I would like to thank all the current and past Flow Traders colleagues; none of this would have been possible without them and it has been an absolute pleasure to have been part of the team.”
Mike Kuehnel, CFO Flow Traders, added:
“I am truly honored to be succeeding Dennis as CEO of Flow Traders and to lead this exceptionally talented global team. Flow Traders is a unique business with all the essential components in place to deliver on our ambitious strategic growth agenda. I am confident we can successfully leverage the numerous opportunities presented by the rapidly evolving financial markets. Naturally, I am delighted to be part of Flow Traders at such an exciting time and look forward to building a bright future with my passionate and talented colleagues.”