Moneysupermarket kicks off hunt for new chief executive
Price comparison site Moneysupermarket confirmed today it was looking for a new chief executive.
Mark Lewis is stepping down from the role after three years in charge, the group told the stock market this morning.
Sky News first reported the move, revealing that Moneysupermarket had hired headhunters Russell Reynolds to search for his successor.
Lewis joined the FTSE 250 company in 2017 from department store John Lewis where he was retail director.
The company said Lewis wanted to “pursue his career in a new direction”.
No date has been set for his departure.
Lewis will present the company’s preliminary results tomorrow alongside chief financial officer Scilla Grimble.
Moneysupermarket said it will announce that it met market expectations for 2019.
The hunt for a new chief executive is being overseen by chair Robin Freestone in his first major challenge since taking on the role last year.
Analysts at Peel Hunt said: “With any new CEO comes the prospect of strategy change and an expectations reset. This is what happened when Mark Lewis joined Moneysupermarket.
“The appointment of an internal candidate might allay this fear, assuming an internal candidate understood and bought into the strategy as it stands, and assuming there is no strategy conflict within the company – something we have been assured is not the case.”
Moneysupermarket also owns Moneysavingexpert, the site set up by consumer champion Martin Lewis.
Moneysupermarket’s share price closed down two per cent at 309p.