Moneysupermarket hunts for new CEO after Mark Lewis quits
By Sean Farrell
Date: Wednesday 19 Feb 2020
(Sharecast News) - Moneysupermarket.com is looking for a new chief executive after Mark Lewis told the price comparison business he wanted to leave.
Lewis has run the FTSE 250 company since 2017. Moneysupermarket said he wanted to take his career in a different direction.
Britain's biggest price comparison website said no date had been set for Lewis's departure and that he wanted to make sure there was a smooth handover to his replacement.
The company, which also owns the MoneySavingExpert financial advice website, faces competition for consumers looking for cheap deals from rivals such as GoCompare and Comparethemarket.
Sky News, which reported Lewis's departure overnight, said the decision to leave was Lewis's and that he had not been forced out. Moneysupermarket has hired headhunters Russell Reynolds Associates to find a replacement for Lewis.
Lewis was a surprise choice when he was hired from John Lewis, where he was retail director and previously online director.
"The board has initiated a formal search process for his replacement which includes internal and external candidates," the company said. "In the meantime Mark remains in role and fully engaged with the business."
Moneysupermarket said Lewis and chief financial officer Scilla Grimble would present its 2019 results as planned on Thursday 20 February and that the results met market expectations.
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