Directorate Change

RNS Number : 0569G

Moneysupermarket.com Group PLC

03 August 2016

 

Directorate Change

This announcement contains inside information.

Moneysupermarket.com Group PLC ("MoneySuperMarket" or the "Group") announces that Chief Executive Peter Plumb has indicated to the Board his intention to step down as Chief Executive of the Group.  This will happen on or before the Group's AGM in May 2017, to ensure smooth succession planning.

Having taken over as Chief Executive in 2009, Peter Plumb has led the growth of MoneySuperMarket from a price comparison site principally offering comparison for loans and motor insurance to being the UK's leading comparison and content services group.

Bruce Carnegie-Brown, Chairman, said "We are indebted to Peter for his leadership of MoneySuperMarket since he became Chief Executive in February 2009.  During that time MoneySuperMarket's share price has grown from 45p to 302p (as at 2 August 2016).  In addition, adjusted EBITDA has grown at 20% CAGR and MoneySuperMarket has returned over £338m to shareholders in ordinary and special dividends. 

"We now start the formal process to appoint Peter's successor. Meanwhile Peter remains fully engaged with the business and will continue to deliver on the execution of our strategy."

Peter Plumb, Chief Executive Officer, added:

"Nearly eight years as CEO of the MoneySuperMarket Group have flown by.  We have built the UK's leading price comparison site, empowering tens of millions of families across the UK to save hundreds of pounds each, for free, on their household bills.  We've built trusted brands, put in place new platforms and made switching a habit for many UK households.  For me, it's the right time to hand over the leadership baton and thank everyone in the team for their hard work and relentless determination to help more people save more money."

The Group today announced first half results to 30 June 2016 showing revenue growth of 10%.

Ends

For further information, contact:

Matthew Price, Chief Financial Officer

Tel:  [phone]

William Clutterbuck, Maitland

Tel: [phone]

 

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