Cole will remain as chairman of Football Index, but step away from the day-to-day running of the business, with co-founder and chief marketing officer Mike Bohan to take on the position of CEO.
Bohan will be supported in the role by co-founder and chief operating officer Ciaran Rowan.
“This year has been an exceptional one for all of us during which we have seen some unprecedented effects on our lives,” Cole said.
“It has taught us all to embrace change and as we near its end and look towards 2021 with hope, I feel it’s important to reflect on where we have come from and as we move into our sixth year, consider where we are headed next.
“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.”
Founded in 2015, Football Index allows users to trade on the future success of football players through a stock market-like system.
“This reset will only be as successful as we make it and listening to our traders, is more important than ever at this stage in our journey,” Bohan said.
“We are aware that many traders 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.
“With a clear focus on decision making that is underpinned by intelligent strategy and an appreciation for how the product works, we are looking forward to taking the platform to new heights in 2021.”