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Rightmove PLC boss Peter Brooks-Johnson will step down next year, the online real estate portal said on Monday.
Shares in the FTSE 100 constituent were 4.3% lower at 534.60 pence each in London on Monday morning, one of the worst blue-chip performers.
Brooks-Johnson, who has been with the company for 16 years, will depart after the announcement of full-year results in February of next year.
The company will start a search for his successor.
Brooks-Johnson joined Rightmove in 2006, became operating chief in 2013 and was promoted to CEO in May 2017.
He said: ‘I have thoroughly enjoyed my journey at Rightmove, working with a hugely talented team who have taught me an immeasurable amount. Rightmove is an amazing company, with a clear focus and a relentless energy to innovate, which it has been a privilege to serve. I'd also like to thank our customers for their support and loyalty over the past 16 years.
‘With Rightmove progressing well on its mission to make home moving easier and our strong trading from 2021 continuing into 2022, I have decided it is an appropriate time to seek a new challenge. I continue to be hugely enthusiastic about the company and the opportunities we see ahead. I have no doubt that Rightmove will continue to deliver for home hunters, customers and shareholders for many years to come.’
Rightmove added that trading so far in 2022 has gone as expected. Rightmove's full year outlook is unchanged.
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