Purplebricks has confirmed the appointment of an interim chief executive three months after it announced the departure of Sam Mitchell as CEO.
Shareholders in Strike, Purplebricks’ parent company, have been notified that Stuart Bartlett, a former automotive industry executive, has been appointed to the role.
Bartlett’s LinkedIn profile has been updated, stating that he is now a board advisor to Purplebricks and an investor in Strike.
Purplebricks, acquired by Sir Charles Dunstone, one of Britain’s most prolific entrepreneurs, 18 months ago for £1, has undergone major changes in recent months
According to the update circulated to investors, Strike executive chairman Andrew Harrison – a long-standing colleague of TalkTalk and Carphone Warehouse co-founder Sir Charles – has also made a number of other senior appointments.
These include a new national sales director and interim group finance chief to replace Deepak Jayaprakash, its former chief financial officer.
Hundreds of jobs have been cut at Purplebricks since the takeover in 2023.
Purplebricks told EYE: “Purplebricks confirms that Stuart Bartlett has been appointed interim chief executive. Stuart will work closely with executive chairman Andrew Harrison and Purplebricks’ senior team as we build towards the next stage of the company’s growth.”
Purplebricks CEO Sam Mitchell to depart as online estate agency announces ‘new structure’
This is known as the floundering stage of a business’s life cycle.
Similar to a fish out of water, it flaps around, gasping for breath, tail slapping against the river bank, a lack of oxygen causing it to behave erratically.
An interim CEO from the automotive industry. No, they are not joking.
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It’s a questionable decision to appoint a CEO without industry experience, especially in a sector as nuanced as ours in estate agency. While transferable skills are valuable, this isn’t a CFO appointment, where financial expertise is key, rather than someone who needs to understand the operational intricacies of the business. The board’s decision-making here seems risky. I wish him well, but fear this could be another misstep for Purplebricks.
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🙂
🙂
🙂
this is as close to a laughing emoji as I could find
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Like it or not, the hundreds of millions that have been poured into this company over the years have established PB as a household name in the UK and Charles Dunstone – a man not generally associated with failure – has bought it for a quid. Not to be written off just yet…..
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