FOR IMMEDIATE RELEASE
13 January 2009
Rightmove plc (Rightmove)
Rightmove simplifies organisation
Rightmove, the UK's number one property search website, today announces changes
to simplify its organisation and Board, effective January 2009.
Rightmove will merge finance and other head office functions with its main
property advertising business. "The costs, as well as potential decision making
delays, that go with a group management structure have been eliminated" says Ed
Williams, Managing Director.
Nick McKittrick becomes Chief Operating Officer and Finance Director. Since the
start of 2005 Nick has been Managing Director of the main Rightmove.co.uk
operating subsidiary overseeing a trebling of revenue in three years. Prior to
that, he created Rightmove's new homes business which contributes a quarter of
total revenue. Nick is a founding Director joining Rightmove in 2000 and the
Board in 2004, making him among Rightmove's longest serving Board members.
Scott Forbes, Chairman, says "The Board would like to congratulate Nick on this
promotion into a key new role. Nick has a remarkable track record at Rightmove.
This change will best integrate operational with financial practices as we
assist our customers in the face of the current housing market."
Graham Zacharias (who joined the business as Group Finance Director in 2006,
prior to the IPO) will stand down from the business in the spring of 2009 and
will not stand for re-election to the Board at the May 2009 AGM. Scott Forbes
said "We would all like to thank Graham for his tremendous contribution to
transform Rightmove from a private company to a FTSE250 public company."
Rightmove will report its 2008 results on 27 February 2009.
Person responsible for making this announcement:
Liz Taylor, Company Secretary, 0207 087 0700