Moneysupermarket chief financial officer to step down

Comparison site Moneysupermarket has announced that its chief financial officer Matthew Price is to step down from his role, and as a director of the group on October 31.

He will continue to act as CFO and to deliver on the execution of the group’s strategy and support a smooth transition, the statement to the Stock Exchange said.

A formal process to appoint a successor has commenced and a further announcement on succession will be made in due course, said the company.

Moneysupermarket chief executive Mark Lewis said “Since I joined in 2017, Matthew has played an important role supporting my transition into the business and the development of our new strategy.

“He has been a key member of the leadership team over the last four years and I wish him well for the future.”

Bruce Carnegie-Brown, chairman, said “Matthew has made a significant contribution to Moneysupermarket’s success over the last four years.

“During that time Moneysupermarket’s share price has grown from 188p to 318p (as at 16 May 2018) and has returned over £230m to shareholders in ordinary and special distributions.

“The financial management and control he instituted have been a vital factor in setting the company up for success in the next phase of its development.”

Mr Price said: “Moneysupermarket is a great business and the last four years have been exciting and fulfilling.

“It has been particularly rewarding to help develop the new strategic direction of the group, and to leave the business in a strong position as it executes against that strategy.”

In April the group, based in Ewloe, near Chester, reported a first quarter 4% rise in revenues to £88.3m.