Chester-headquartered Moneysupermarket.com has confirmed that chief executive Mark Lewis is stepping down and that the hunt for his replacement has begun.
The company, which will report its annual results tomorrow, said Lewis would stay on to ensure a smooth transition and that it would meet market expectations for 2019.
Lewis has run the FTSE 250 company since 2017 and Moneysupermarket said he now wanted to take his career in a different direction.
“The board has initiated a formal search process for his replacement which includes internal and external candidates,” a statement read. “In the meantime Mark remains in role and fully engaged with the business.”
Britain’s biggest price comparison website said no date had been set for the CEO’s departure and that he wanted to make sure there was a smooth handover to his replacement.
Sky News first reported Lewis’s departure and said the decision had been his and that he had not been forced out. Moneysupermarket has hired headhunters Russell Reynolds Associates to find a replacement.
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. Lewis joined the company in 2016 from John Lewis and replaced Peter Plumb, who had been in charge for six years.