Rightmove has announced a new non-executive chairman as from January 1.
He is Andrew Fisher, who is currently a non-executive director of both Marks & Spencer and Moneysupermarket.
He was previously CEO and executive chairman of Shazam, a music identification app. Apple bought the company last year for a reported $400m.
Fisher succeeds Scott Forbes, who has been chairman of Rightmove since 2005.
Forbes’ forthcoming departure was announced in Rightmove’s annual report for 2018, published in March this year.
It followed the 2018 AGM when 37.3% of shareholders voted against the re-election of Forbes and also senior independent director Peter Williams because of their other board commitments.
Following that shareholder revolt, Forbes said he planned to step down by the May 2020 AGM.
New government guidelines also say that listed company chairs are no longer independent after more than nine years on the board.
Williams did not stand for re-election this year.
Forbes, who was paid £170,000 in 2018 by Rightmove, said: “It’s been a privilege and pleasure to have been part of Rightmove’s journey from pre-IPO in 2005 to the FTSE 100 business it is today.
“I have thoroughly enjoyed working with so many talented people seeking to serve customers and home hunters and engaging with shareholders who have been most supportive for many years.”
Rightmove’s shares closed almost 2% up on Friday at a new high of 631p.
Shareholders unite in protest against re-election of Rightmove chairman
It was my great pleasure to appoint Scott Forbes as Chairman of Rightmove. He, and the executive team have done a truly FANTASTIC job for shareholders and have created one of the world’s leading websites. He will continue to be a hugely successful director in various locations and I just hope that his successor has the same abilities.
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