Chief executive of spread-betting group WorldSpreads Conor Foley has resigned from the board, it was confirmed today.

Mr Foley, who remains the group's largest shareholder, is leaving to "pursue other interests", the group said in a statement.

It also said it was in negotiations with former WorldSpreads Limited chief executive Roger Hynes to take over as interim chief executive.

Lindsay McNeile, who is non-executive chairman of WorldSpreads and its London subsidiary WorldSpreads Limited, will take over as executive chairman of both companies. Group head of compliance Dominic Bacon is taking up a role on the board with immediate effect.

The news of Mr Foley's departure comes only weeks after chief financial officer Niall O'Kelly resigned. The group said it had released Mr O'Kelly from his notice period.

The WorldSpreads group was founded in Dublin but sold its Irish division in 2009.