THE Chester-based founder of price comparison website money supermarket.com is stepping back from the day-to-day running of the business.
Chief executive Simon Nixon, who launched the firm in 1999, will take on a new role of executive deputy chairman to focus on product development.
Mr Nixon owns 54% of moneysuper market.com, but has no plans to sell any of his shares.
The company, based in Ewloe, believes the entrepreneurial “super-growth” phase of the business is over, meaning different skills are needed to run a larger and more complex firm.
It has been hit by competition and a clampdown on lending by struggling banks, sending its shares down nearly 75%.
Mr Nixon will be succeeded in February by Peter Plumb.
