The chief executive of Rightmove is planning to step down after more than 16 years with the company.
Peter Brooks-Johnson will remain in the top job at the UK's biggest property website until its full-year figures are unveiled in February next year and will help with finding a replacement, the company announced on Monday (May 9).
The group said it would also be launching the search for his successor.
Mr Brooks-Johnson said with Rightmove "progressing well" on its mission to make home moving easier and the company's strong trading from 2021 to 2022, he had decided it was an "appropriate time to seek a new challenge".
Rightmove chairman Andrew Fisher said: “Peter has made a significant contribution to the success of Rightmove over the past 16 years and whilst we are disappointed that he will be leaving the business, we understand his decision.”
He added: “I look forward to working with Peter to ensure a smooth transition and given Rightmove’s strong market position we are confident we will attract a high-calibre successor.”
Mr Brooks-Johnson joined Rightmove in 2006, before working up the ranks to become chief executive in May 2017. He was previously a management consultant with Accenture and the Berkeley Partnership.
The group saw profits jump by more than two thirds to £225.6m as the business said the number of customers using its upgraded package doubled in 2021.
The business saw revenue per advertiser on the property site leap 9% compared with 2019, before the pandemic struck.
The news comes as the cost of UK property continues to rise, with average house prices hitting a new record high in April, according to Rightmove.
New data from the property website has also revealed the top hotspots in Britain for asking prices. Bath has seen the biggest increase in asking prices of any UK city over the last year - rising 15% to £558,018. Truro, in Cornwall, ranked second on the list, with asking prices jumping 14.8% to £323,209, while Southend-On-Sea - the UK's newest city after being granted city status earlier this year - was third, with a rise of 13.4% to £343,033.
