Yesterday we told you that the £500 million demerger of Gocompare.com
is set to be unveiled later this week – and now the comparison giant’s incoming chairman has outlined its future plans.
Reported on by The Financial Times
, Sir Peter Wood suggested the company is looking to expand beyond the UK.
“We’ll be looking at what you can do when you have 20-30 million customers coming through the door,” he told the publication. “We need to develop businesses that can be disrupters.”
He pinpointed that these businesses could be taken overseas and that the company is “looking for areas where the customer is overcharged or badly serviced.”
Plans for a demerger were confirmed yesterday with Sir Peter Wood explaining that “Esure
and Gocompare.com are distinct businesses” and that “a demerger will allow the separate management teams to focus on their independent strategies.”
In addition, Wood is hopeful that the move will help Gocompare.com attract top talent noting to The Financial Times
that “you can only get the digital marketing gurus if you are an independent business.”
Different analysts have placed the value of Gocompare.com at between £400 million and £600 million as a standalone business.
Details of the demerger are expected to be outlined next month with the move to be completed by the end of the year.
£500 million Gocompare.com demerger to be unveiled this week
Gocompare.com appoints new CEO as strategic review begins