Moneysupermarket.com Chief Exec set to “hand over the leadership baton”

The chief executive of Deeside based price comparison website Moneysupermarket.com is to step down after eight years in charge.

Peter Plumb will leave the Ewloe headquartered company prior to the group’s annual general meeting in May next year.

Under Mr Plumb’s eight-year leadership shares in the group have risen from 45 p to 302p.

Peter Plumb said:

“Nearly eight years as CEO of the MoneySuperMarket Group have flown by.

We’ve built trusted brands, put in place new platforms and made switching a habit for many UK households.

For me, it’s the right time to hand over the leadership baton and thank everyone in the team for their hard work and relentless determination to help more people save more money.”

News of Mr Plumbs departure saw shares fall today -down 2.81%, or 8.5p, to 293.5p. (12pm)

The announcement comes as Moneysupermarket report a 24.7 per cent rise in pre-tax profit during the first half of the year to £47.1m.

• Group Revenues up 10% led by Money and Home Services, momentum returning in Insurance.
• Adjusted Operating Profit up 6% reflecting increased investment in marketing.
• Interim dividend up 8%, continuing our progressive dividend policy.
• Technology investment of £10.4m in the third year of our investment programme. Innovative new products include the MoneySuperMarket mobile app and MoneySavingExpert’s credit club.

Commenting on the half year interim results Peter Plumb said :

“First half trading up 10% is another good start for Moneysupermarket Group. Millions of households used us to save money on household bills so far this year, and we have a growing number of innovative new products that help more people save in more ways.

“Saving customers money becomes even more relevant in these uncertain times after the EU referendum.”