Brokerage Van der Moolen said on Friday it expected to post an operational loss of up to €8m in the second quarter and that CEO Richard den Drijver is stepping down because of the disappointing results.

However, Den Drijver will remain involved with the company as an advisor ‘in order for Van der Moolen to retain his knowledge and expertise’, the brokerage said in a statement.
Den Drijver’s duties will be taken over by the supervisory board in the short term which will focus on winning extra financing for the company.
Den Drijver joined Van der Moolen in 2006. He was a founder of London trader Curvalue which the Dutch firm took over in 2005.
Trading in Van der Moolen shares was halted on Thursday pending the statement.