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Daily Insurance Industry News
Thursday 18th of January 2018
December 19, 2008

Moneysupermarket.com founder and CEO steps down

by David Masters

Story link: Moneysupermarket.com founder and CEO steps down

Price comparison site Moneysupermarket.com has announced that its founder and chief executive, Simon Nixon, is to move into a new role as executive deputy chairman.

Nixon’s new job – which he will move into by February – will be to focus on strategic innovation and development.

Meanwhile, Peter Plumb, currently managing director of the company, will replace Nixon as chief executive.

Nixon said he remains ‘totally committed’ to Moneysupermarket.com, but added that running an established business requires different skills to setting one up from scratch.

Moneysupermarket.com was founded by Nixon in 1999. It was floated on the stock market in 2007, and employs more than 500 people at its headquarters in Wales.

Revenues at the firm have struggled lately because of the credit crunch, with earnings in 2009 expected to fall compared to 2008.

The company said in a statement that the brand ‘remains in great shape’, although it added that the outlook is ‘unclear’.

 

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