EuroDollar's systems development manager Steve Jeffree was elected chairman at Fleetnet's AGM in February, but has been forced to resign after securing a new job with retail group Next.

Jeffree's move comes after more than 10 years at EuroDollar and five years' involvement with Fleetnet, the last three of which he was vice-chairman of the electronic trading steering committee. Fleetnet has grown rapidly over the last two years with a membership of close to 100 of the industry's key players and Jeffree said it was an unfortunate turn of events which had led to his resignation.