Shares of Freedom Holding Corp. (NASDAQ:FRHC) fell 2.1% in after-hours trading Monday after the company disclosed a change at the top of its finance organization.
The firm said it has appointed Valeriy Kim as its new Chief Financial Officer, replacing Evgeny Ler, who had held the CFO post since 2015. Ler will not leave the company but will shift into a special advisor role, collaborating with Chief Executive Officer Timur Turlov on financing and mergers and acquisitions activities.
Kim, 37, has been with Freedom Holding Corp. and is credited in the announcement with having established the company’s financial reporting, tax and planning functions. Prior to this appointment, he served as Vice President of Finance at Freedom Holding Corp. and as Chief Executive Officer of Freedom Holding Operations LLP, a subsidiary of the company. His résumé also includes a term as Chief Financial Officer of Freedom Finance Global PLC from 2020 to 2024.
The release noted that both Kim and Ler began their careers at Deloitte before joining Freedom Holding Corp., underscoring a shared professional background.
The company did not provide additional commentary in the disclosure included with the personnel change. The market appeared to register the leadership shift with a modest after-hours decline in the share price.
Observers will now watch how the transition is implemented and how responsibilities for reporting, tax and planning are managed under Kim’s leadership. Ler’s move to an advisory role will center on financing and M&A initiatives in coordination with the chief executive, according to the announcement.
Context and implications
While the statement lays out the personnel changes and prior roles, it contains limited detail on timing for the transition and on any strategic changes to finance operations. The market response in after-hours trading reflected a modest negative reaction, but the company has indicated continuity in its use of internal senior personnel and in Ler’s continued involvement in financing and M&A matters.