RIGHTMOVE BOSS MOVES ON HIMSELF AFTER 16 YEARS

RIGHTMOVE’S chief executive is stepping down after more than 16 years with the business.

Peter Brooks-Johnson, who has led the UK’s largest property website since May 2017, will leave when fullyear figures are published in February next year.

Rightmove said he will help with a ‘smooth and orderly handover’ as the search begins to identify his successor. During his five years in charge, Brooks-Johnson took Rightmove into the FTSE 100.

The company also returned almost £750m in cash to shareholders via dividends and share buybacks.

The estate agent portal last year recorded profits of £226m on revenues of £305m. And revenue per advertiser on the property site leaped 9pc compared with 2019 before the pandemic struck.

Shares dropped 3.4pc, and AJ Bell investment director Russ Mould said: ‘A sharp drop in shares upon news that Peter Brooks-Johnson is to step down in 2023 is perhaps the ultimate compliment to the online property portal’s boss.’