Football Index reset kicks off as CEO steps down

Football Index CEO Adam Cole will step down from the day-to-day running of the business to inaugurate a wholesale reset of the football trading site. Cole will now become chairman, handing over the CEO role to CMO and co-founder Mike Bohan with immediate effect. Bohan will be supported in the top job by Football Index COO and co-founder Ciaran Rowan. “As co-founders, both Mike and Ciaran are fully committed to the future success of the platform and focused on taking us to the next level, in what will, without a doubt, be an exciting new chapter in Football Index’s journey,” Cole said in a departing message. “After five years of watching the platform grow, I am delighted to be handing over the reins to Mike and Ciaran and look forward to seeing what this new chapter has in store for Football Index,” he added. The Football Index reset comes amid a rising tide of negative feedback from its users on Trustpilot, where individuals can write reviews and rate businesses. One review, filed within the last week, claimed the Football Index business was at a “critical point” in its lifecycle. “If they don’t deliver on their plans and promises they made soon, the platform will fall flat. Their own deadlines passed long ago. Sort your house out FI HQ,” the Trustpilot reviewer wrote. Other reviewers were more scathing in their comments, with similar posts appearing on Twitter. The disappointment follows the introduction of order books on the platform, which caused player share prices to crash as there was not enough peer-to-peer liquidity on the site following the update. This saw many users stuck with massive positions in specific players and unable to sell as their prices had dropped dramatically. Responding to its critics, incoming CEO Bohan said there would be a “renewed focus” on delivering improvements requested by users, with feedback solicited from traders. To deliver this, the firm has targeted an increased engagement with customers, pledging to make changes to the platform in an “agile and efficient” manner. Posting on the Football Index blog, Bohan suggested working alongside external liquidity providers could be under consideration. He said: “We are aware that many of you have spoken at length about the importance of liquidity providers, and as a product that has appeal both from the perspective of trading and football gambling, we have had interest from both sectors. “At the moment, we are working hard to get these relationships in a good place.” Bohan added: “This reset will only be as successful as we make it and listening to you, our Traders, is more important than ever at this stage in our journey. “As such, expect fewer promises and more deliverables as we embark on this fresh start,” he added.