23rd Jun 2005 15:52
For Immediate Release 23 June, 2005 Rightmove Limited ("Rightmove") Appointment of new Chairman and possible listing of Rightmove Countrywide plc (the "Company") is pleased to announce today that Scott E.Forbes, formerly Group Managing Director of Cendant Europe, Middle East andAfrica, has agreed to become Executive Chairman of Rightmove, the UK's leadingon-line property business in which Countrywide holds 30 percent. Theappointment is effective immediately.The appointment of Scott Forbes will assist Rightmove to further develop itsbusiness, working closely with Ed Williams, Rightmove's Group ManagingDirector.The Board of Rightmove is seeking a possible IPO for the business. Scott hasbeen asked by the Board to explore the various options to achieve this aim.Harry Hill, Chief Executive of Countrywide, commented:"We are all absolutely delighted that we have been able to attract someone ofScott's calibre to the Chairmanship of Rightmove and look forward to workingwith him and the long-standing executive team to further develop Rightmove'sleading franchise in the on-line property market, particularly around thesubstantial opportunities that exist for the business in advance of, and post,the introduction of Home Information Packs in 2007."Scott Forbes said:"I am very pleased to take up this prestigious position. Rightmove has a numberof existing opportunities to grow and develop. I am looking forward to workingwith Ed and his team to build on their considerable success to date."Enquiries:Harry Hill, CEO Countrywide 01376 533700Scott Forbes, Chairman Rightmove 0845 456 8439Ed Williams, Group Managing Director Rightmove 0845 456 8439Maitland (for Rightmove) 020 7379 5151Neil BennettFiona PipeRightmove.co.uk is the UK's number one property website displaying details ofhomes for sale or rent to the largest online audience - as large as the nextthree sites put together. It currently has over 55 per cent of all estateagents and displays a property stock in excess of 633,000 properties worth inexcess of ‚£121 billion.All eight of the estate agency groups with 100 or more branches list theirproperties on the site, including four on an exclusive basis. More than half ofthe largest 20 house builders display their developments.The Rightmove site received over 10 million visits in May from home movers whoviewed in excess of 187 million pages of property.The business was founded in 2000 and has traded profitably for the last threeyears.Rightmove is jointly owned by Countrywide, HBOS, Connells and R&SA.Cendant, which is listed on the New York Stock Exchange, has a marketcapitalisation of approximately $23 billion and is one of the foremostproviders of travel and real estate services in the world.ENDCOUNTRYWIDE PLCRelated Shares:
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