Just Eat finds new CEO: former Moneysupermarket boss
Peter Plumb, Just Eat’s somewhat suitably named new CEO, has big shoes to fill. He’ll be replacing celebrated former CEO David Buttress, who stepped down after four years for “urgent family reasons” but remains on the board. In the interim between Mr. Buttress’ resignation and Mr. Plumb’s appointment, the company was steered by the steady hand of longstanding chairman John Hughes – although he stepped down in April, and died suddenly last month. The company’s chief financial officer, Paul Harrison, took his place temporarily, but it is no insult to him to say that Just Eat will benefit from finally having a full time CEO back on board.
Just Eat’s share price is up by almost 15% so far this year
SOURCE: Yahoo Finance
Mr. Plumb is credited as being the boss who took Moneysupermarket.com into the big time. When he joined that company eight years ago, it was an immature and under-the-radar business. Today, it is a mainstream distribution channel for the insurance industry. Plumb has also fulfilled senior roles at Dyson and Disney Consumer Products.
According to interim chairman Andrew Griffith, Mr. Plumb has “an excellent record in high-growth consumer digital business, international experience in driving brands, and proven capability to retain, deepen and build senior management teams.” These attributes will be in demand following the acquisition of Hungryhouse in the UK.
This acquisition will likely be Mr. Plumb’s first task. Regulators are questioning whether the combination of businesses will be detrimental to the terms under which restaurants can access their services. Still, if Plumb can see that acquisition through, he will help to continue a strong winning streak for the company: over the last 12 months, Just Eat’s share price has risen by 60%.
Dominion holds Just Eat in its Global Trends Managed Fund.
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