Yopa boss Ben Poynter is leaving the online agent which is backed by LSL, Savills and the investment arm of the Daily Mail owners.
Yopa said that the departure followed the successful completion of the recent £16m fundraising round.
Poynter, 29, will be going at the end of this month to pursue unspecified “new opportunities”. No other reason has been given and his successor is yet to be appointed.
The firm said that since taking over as CEO, Poynter “has led the business through a period of substantial change, improving the financial performance of the business and laying the foundations for the future success and growth of the company”.
Poynter said: “First and foremost I would like to thank all the employees and agents for their commitment to help build what is a very special company and I wish them all the very best for the future.
“I’m proud to leave the business with strong foundations to build on and am confident that Grenville Turner, a seasoned executive in the property sector, will help Yopa appoint a new CEO to lead Yopa through its next phase of growth in the coming months.”
Commenting on the departure, Grenville Turner, the former Countrywide boss who became Yopa chairman in August, said: “Ben has made a huge contribution to the business, turning a young start-up company into a professionalised outfit with clear strategic direction and a culture that we are all proud of.
“On behalf of the board, I would like to thank him for his dedication and professionalism and wish him the very best for his future endeavours.”
Poynter, previously chief financial officer, was appointed a director of Yopa in only August last year having become CEO in April when co-founder and then chief executive Daniel Attia became chairman.
Attia, who has now stood down as chairman to make way for Turner, founded the online agent when he was 23.
Altogether over £91m of investment is estimated to have been ploughed into the business.
According to Yopa’s last published accounts at Companies House, covering the 12 months to the end of 2017, Yopa had cumulative losses of over £32m.
EYE Exclusive: Yopa announces new £16m funding and appoints Grenville Turner as chairman
Comments (11)
Or to read in business terms ……Jumped ship or pushed?
£91m of investment??? More like £91m tipped into a black hole. These sophisticated investors must really know their stuff. No doubt Ben will pop up again in a funky online business with a ping pong table in the boardroom.
what do YOPA do exactly
never heard of them
Flavoured yoghurt drinks, I believe…;)
Genius 🙂
2018 Accounts not yet filed – due 30th Sept 2019 – what are the odds that those losses have doubled?
I think the timing of Poynter leaving along with accounts due to be published is no coincidence.
I assume they will not be looking great…
Not a great look when a company like this can’t file financial documents on time!
Ah, the old ‘new opportunities’. Always unspecified. And so often completely unexpected by the person now pursuing them.
On the back of he £91m investment; how much revenue has been generated to date?
Has it all been worthwhile?
It’s that good a business he’s walked away…for a better job… makes perfect sense.