Key Purplebricks investor Axel Springer, a 26.5% shareholder in the company, has stepped down as a board representative for the online real estate company.
A stock market update this morning revealed that Ait Bomke, who joined Purple Brick’s board of directors as a non-executive director last July, has stepped down from that role.
Following the launch of the Strategic Review announced by Purplebricks on February 17, 2023, Axel Springer and the company have considered regulatory and governance expectations regarding equality of information among shareholders during the offer period.
Axel Springer has reviewed positions and has concluded that he will not retain representation on the Board for the foreseeable future.
Voncke has therefore resigned from his position as director of the company from March 6, 2023 for the time being. Axel Springer reserves the contractual right to appoint representatives to the Board of Purplebricks in his discretion.
Bonnke, who joined Axel Springer’s real estate online advertising business, AVIV Group, as CEO in January 2021, said: We believe this review and process will benefit our stakeholders and support the long-term growth of our business. “
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