Board shuffle at Purplebricks

Purplebricks senior independent non-executive director Mike Wroe is stepping down from the board. Wroe, who is also chair of Purplebricks’ audit committee, joined the board in April 2018. Paul Pinder will assume the role of chair of the audit committee. Independent non-executive director Simon Dowding has stepped up as senior independent director. Dowding joined the Purplebricks board in May 2018, and is also founder of software company Civica. Paul Pindar, chairman of Purplebricks, said: “We would like to thank Mike for his contribution during his time on the board and we wish him well for the future.” The departure rounds off a tumultuous year for Purplebricks. In February, the company’s UK chief executive Lee Wainwright and US leader Eric Eckardt stepped down from their roles amid challenging marketing conditions. Two months earlier, the company reported that its losses more than doubled in H1 2018 to £25.6m from £11.4m the previous year. Company founder Michael Bruce subsequently picked up the reins in the US, but stepped down in May this year after admitting that the firm’s expansion plans were “too rapid”. The business also revealed that it will exit the Australian market, claiming market conditions have become “increasingly challenging” and the “prospective returns from Australia are not sufficient to justify continued investment”. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette