Purplebricks appoints interim CEO for US business

RNS Number : 4825Z

Purplebricks Group PLC

20 May 2019

 

20 May 2019

Purplebricks Group plc

("Purplebricks", the "Company" or the "Group")

Purplebricks appoints interim CEO for its US business

Purplebricks Group Plc (AIM: PURP), a world leading hybrid real estate agency, has appointed Phil Felice as interim Chief Executive Officer of its US business. Phil will play a pivotal role in determining the Group's options for delivering the next phase of growth in the US.

Phil served as Purplebricks' US Vice President of Sales from 2017-2019 and was appointed as Executive Vice President of Purplebricks US earlier this year. He brings extensive experience in the US real estate industry most recently having spent two years as Head of Sales at Hubzu, a leading online marketplace for end-to-end real estate auctions, and previously as a Vice President at Realogy and at Foxtons.

Vic Darvey, Group Chief Executive Officer, commented: "We are currently assessing a number of different scenarios around how we operate in the US but remain optimisitc about the opportunity for Purplebricks here. Phil will be fundamental in helping us develop a more sustainable business model, based on a tested and cost-efficient strategy."

Phil Felice, interim US Chief Executive Officer, commented: "Purplebricks has made positive headway with our brand awareness and engagement in the US to date. Over the coming months, I look forward to working closely with Vic and the leadership team as we develop our strategy for the US business and show our customers a more convenient, transparent and cost effective way of buying and selling their homes."

Purplebricks will provide a further update on the progress of its US strategic review at its full year results on 3 July 2019.

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Enquiries

Purplebricks	[phone]
Vic Darvey, CEO
James Davies, CFO
Adam Kay, Head of Investor Relations
Zeus Capital (NOMAD)	[phone]
Nick Cowles, Jamie Peel
Buchanan	[phone]
David Rydell, Jamie Hooper, Catriona Flint

Forward-looking statements

This announcement includes statements that are, or may be considered to be, "forward-looking statements". By their nature, such statements involve risk and uncertainty since they relate to future events and circumstances. Results may, and often do, differ materially from forward-looking statements previously made. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Except as required by law or by the AIM Rules of the London Stock Exchange, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations to reflect subsequent events or circumstances.

About Purplebricks

Purplebricks is a world leading hybrid real estate agency. Based in the UK, it also operates in the US, Canada and is invested in Homeday.de in Germany. Purplebricks combines highly experienced and professional Local Property Experts (US: Local Real Estate Experts) and innovative technology to help make the process of selling, buying or letting more convenient, transparent and cost effective. Purplebricks shares are traded on the London Stock Exchange AIM market.

 

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