OnTheMarket CFO to depart role next year as property platform revenue booms
Property search platform OnTheMarket has announced its chief financial office will be leaving the firm early next year.
Clive Beattie has resigned from his position at the London-listed company to pursue another company, OnTheMarket infomed investors on Monday morning.
The board has appointed consulting firm Korn Ferry to kick start a recruitment drive for a permanent replacement.
Beattie will remain with OnTheMarket in the top finance job and as a board director until Friday 27 January 2023 for a smooth transition, the update stated.
The CFO has previously taken the reins of the company as acting CEO amid the Covid pandemic, as well as navigating the company through its 2018 AIM listing.
Jason Tebb, chief executive officer of OnTheMarket, said: “I would like to personally thank Clive for his support since I joined the business 18 months ago and for helping to execute our strategy of becoming a tech-enabled property business. I wish him well for his future endeavours.”
“It has been a great pleasure working with the team at OnTheMarket and experiencing first-hand the evolution of the group,” Beattie said.
“I would like to wish Jason and the team all the very best for the future and look forward to watching their continued success,” he added.
Revenue leapt a third at the property website over the past year, topping £30.4m, in financial results published last month.
OnTheMarket swallowed an operating loss of £0.6m in the 12 months to 31 March, down from a £1.2m profit a year prior.
The platform also saw profit after tax dwindle to £0.1m, from £2.7m in 2021.