Online card retailer Moonpig has revealed its next CEO.
Catherine Faiers will replace Nickyl Raithatha, who in June announced that he would be stepping down after seven years in the business.
Raithatha oversaw Moonpig’s IPO in February 2021 and saw its shares leap 17% on its first day of trading, valuing the company at £1.4 billion.
Its share price has since dipped and now stands at 218p, giving the business a market cap of £700m.
Faiers is currently the COO at Auto Trader Group plc. Prior to this she was COO at Addison Lee, corporate development director at Trainline and a director at Close Brothers Corporate Finance.
An independent non-executive director of Allegro.eu Group, at Moonpig she will receive a gross annual salary of £570,000 with a pension allowance equating to 5% of this.
Raithatha’s leaving date – and Faiers’s start date – will be announced in due course.
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“Catherine brings a wealth of experience in eCommerce and public companies, with a proven track record of leading customer-focused digital, data, and technology transformations,” said Kate Swann, non-executive chair at Moonpig.
“I’m delighted to welcome her to the board and look forward to working closely with her. The board is pleased to have attracted someone of Catherine’s calibre to lead Moonpig Group, which reflects the strength and potential of our business.”
Faiers said: “I’m excited to be joining Moonpig Group, a business with a clear purpose, a strong platform and an exciting future.
“It has been a privilege and a true career highlight to serve on the board and leadership team of Auto Trader. Being part of the team driving innovation and growth in a business whose data and technology underpin the UK automotive industry has been both inspiring and immensely rewarding.
“I’m proud to have contributed to shaping Auto Trader’s strategy and growth during this pivotal period. I wish the entire team every success as they continue to lead and transform the industry.”
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