20th May 2019 09:43
LONDON (Alliance News) - Purplebricks Group PLC on Monday said it has promoted Phil Felice to be interim chief executive officer of its US business as it continues to assess different scenarios for its operations there.
The real estate agent said Felice will "play a pivotal role" in determining the group's options for delivering the next phase of growth in the US.
He has been vice president of sales for the US since 2017 and was appointed executive vice president of Purplebricks US earlier this year.
"We are currently assessing a number of different scenarios around how we operate in the US but remain optimistic about the opportunity for Purplebricks here. Phil will be fundamental in helping us develop a more sustainable business model, based on a tested and cost-efficient strategy," Group CEO Vic Darvey said.
Earlier this month, Purplebricks founder & group CEO Michael Bruce stepped down after a "disappointing" year for the firm. Back in February, Bruce had taken over the day-to-day management of the US business after the departure of US CEO Eric Eckardt.
Also in February, the estate agent said cut its annual guidance by GBP35 million and warned that its revenue in Australia and the US will fail to meet expectations, subsequently announcing its departure from Australia.
Purplebricks shares were trading down 2.8% at 101.14 pence each on Monday.
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