Dembo steps away from CEO role as Algo secures new financing

Dembo has held the chief executive role since the company was founded in 1989. Michael Zerbs, chief operating officer, who has also been at the company since its first year, will take over as acting chief executive. The development comes as Algorithmics secured long-term refinancing from its existing investors, including major banks Morgan Stanley, Commerzbank, Canadian Imperial Bank of Commerce and Royal Bank of Canada.

“It is my intention to concentrate on the company’s long-term vision and

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