Gocompare.com appoints new CEO as strategic review begins

Board considering potential demerger as it looks to boost profitability by 20-30 per cent

Insurance News

By Paul Lucas

The start of what could be a major overhaul at price comparison giant Gocompare.com has begun today with the announcement of a new chief executive officer at the firm and a strategic review.

The board of eSure Plc, which acquired the outstanding 50 per cent of Gocompare.com for £95 million last year, is aiming to boost the comparison website’s profitability by 20-30 per cent in 2016 and has now stated it is “the right time to review strategic opportunities for the business”. As part of its strategic review it has outlined that it will look at the possibility of a potential demerger.

“Now is the right time to review strategic opportunities for the Gocompare.com business, including a potential demerger, in order to continue to maximise value for our shareholders,” said Peter Wood, chairman of the eSure group.

In addition, the company has today (Tuesday, June 07) announced the appointment of Matthew Crummack to the role of CEO, subject to regulatory approval. Previously, Crummack was the CEO of lastminute.com from 2011-2015 and was also a former senior vice president of lodging at Expedia in Europe and the USA. He is a current non-executive director at National Express.

“I am absolutely delighted to take on the role of CEO of Gocompare.com, following on from what has been a positive period for the company since the Group acquired full control in April 2015,” commented Crummack.

“I look forward to building on the positive momentum that both Jon Morrell and esure have achieved in this time and, together with the fantastic team of people at Gocompare.com, to developing new ideas for growth.”

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