MONEYSUPERMARKET.COM has announced its chief financial officer Paul Doughty will step down.
Doughty joined the online price comparison site in 2004 and led the business to its successful listing on the London Stock Exchange in 2007.
Previously he was UK finance director at Morse and before that was new business finance manager at mobile phone makers Motorola. He began he career at PwC where he spent five years, latterly as audit manager.
Doughty said: “The last nine years have been exciting and fulfilling. It has been particularly rewarding to guide the company through its IPO and to see revenues and profits more than treble. It is time for me to move on and hand over to a new chief financial officer, whom I will work alongside to ensure an orderly handover.”
According to Moneysupermarket.com, Doughty will step down no later than 1 June 2014 with the search for a successor already underway.
Chairman of Moneysupermarket.com Gerald Corbett said: “Paul’s contribution to Moneysupermarket’s success should not be underrated. The financial management and control he instituted have been a vital factor in the company’s rapid growth. He has played a central role in creating Moneysupermarket’s success.”
Doughty’s announcement comes at the same time the business posted strong financial results, including increased group revenue of 10% to £112.3m for the six months ended 30 June. Gross profit also rocketed 18% to £86.7m from £73.3m.
Peter Plumb, Moneysupermarket.com CEO said: “I have very much enjoyed working with Paul. Since I joined in 2008, Paul has played a critical role in steering the business back to growth. I am grateful for his counsel and support over the last five years and wish him well for the future.”
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