Yehuda Dahan has officially stepped down as chief financial officer of digital marketing services provider, XLMedia with immediate effect.

While they have not disclosed the reasons behind the departure, XLMedia have confirmed that it will immediately commence a search for a permanent replacement.

Dahan joined XLMedia as CFO in June 2013 after he previously served in the same role at Silverboim, the private equity business for seven years. He also spent 13 months as financial controller at real estate specialist, Milomer Group.

Currently serving as CFO for XLMedia’s Webpals subsidiary is Liat Hellman, who will now be taking on Dahan’s role on an interim basis while a replacement is scouted. Hellman, who has been with XLMedia since 2012, will not be joining the provider’s board at this time.

XLMedia’s non-executive chairman, Chris Bell, said: “We’d like to extend our thanks to Yehuda for his long-standing contribution to the Group; we wish him every success for his future endeavours.”

Dahan’s exit comes ahead of Stuart Simms taking on the role of chief executive at XLMedia. Simms, who is currently at Rakuten Marketing, is due to join the provider on October 2, replacing its co-founder and long-serving CEO Ory Weihs.

Weihs is due to remain on the XLMedia board as a  non-executive director after Simms takes over as CEO next month.