Rightmove boss Ed Williams is to step down. Williams, 50, who was appointed at launch in 2000, is to leave next April.
His earnings last year are estimated at £260,000 salary plus £169,000 bonus, making a total of £429,999.
He has also gained from sales of shares in Rightmove. For example, in August he and his wife Joanna Barkwill pocketed £7.5m, clocking up sales of £18.8m in 12 months.
Williams’s background before joining Rightmove was in business consultancy with McKinsey & Co, and before that Accenture and JP Morgan.
During his 12 years at Rightmove, he has seen the site become the ‘go to’ place for property searchers, launch on the stock exchange and become a top ten UK property portal just ahead of BBC News, while profit margins have soared above 70%.
Williams is also a non-executive director of Trader Media Group, owner of the UK’s leading motoring website. He has seldom been seen as the public face of Rightmove, a role which has been taken by Miles Shipside.
Williams is to be succeeded by Nick McKittrick, a co-founding executive who is currently finance director and chief operating officer.
Peter Brooks-Johnson, currently managing director of Rightmove.co.uk, will become chief operating officer, and Robyn Perris will become the new finance director.
Williams said of his tenure: “Having the opportunity to take Rightmove from little more than an idea 12 years ago to what it is today has been a privilege.”
Rightmove chairman Scott Forbes paid tribute, saying: “Ed is an outstanding leader and we thank him for his vision and dedication.”
A Rightmove spokesman said Williams would be retiring, and has no plans to pursue any further business interests.
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Comments
Mr B. A. Baracus- cor like thats not been said 100s of time on here fool.
I bet he will miss all you children who made him rich, mugs, then moan, so funny!
The irony in all this is that we agents fed the beast, or the beauty, that is now Rightmove. It was a very simple but clever marketing idea just 12 years ago - advertise all the houses in the uk on one website and get the agents to pay for it - simple, brilliant (and I truly mean that), and effective. There were 20,000 agency offices willing to part with their money from day one, me included. If only there had been some proper competition at the time - maybe an Autotrader version for property or something along those lines, or maybe a credible alternative from one of the other big players in the agency world - and then we wouldn't all be where we are now with Rightmove.
Well done Ed and best wishes for the future
The stupid comments on the site are so funny....more from Zoopla....PMSL
Good luck Mr Williams, you have done well and can be very proud of what you have achieved.
Enjoy your retirement.
With PMA on the ropes and the Govt promoting new business models, yeh... good time to get a break in before round two.
I will be surprised if this is the last we see of this chap.
Zoopla outperforms RM. It's a shame, that some of the 'bod's in the City aren't getting the picture about RM's customer base. I'd love to see their shares crash.
Boss-retiring. More like getting off the band wagon, while the going is goo
Again the moaners and whingers complaining about Rightmove fees and their attitude towards agents.
I do hope you have complained to the Police about the guns held to your collective heads forcing you to sign up to RM? No? So stop complaining and come off Rightmove. Nobody is twisting your arms to advertise with them.
Will you? I doubt it, you are too worried that the other agents will stay on there and take all your business. YOU built up the RM brand and now rely too much on RM instead of your own business/brand. Try trading on your own reputations rather than Rightmove's.
I have to say that from a shareholder's perspective he has been worth every penny.
Rightmove have faultlessly surfed the crest of a wave and actually dominated and lead in their field.
I'll admit that I fell for their "increased traffic" sales pitch on their banners and stuff, but I have to say they didn't try very hard.
Turned up, said hello, I signed - cancelled now though.
All through the fear that A N Other & Co would get there instead.
Well done Ed Williams. By any standards he has been at the helm of a very successful ship.
As posted on the story above
I often get critical comments on this site but I assume all will agree with the floowing.
The world's most arrogant company strikes again. At a time when its clients are struggling to survive in the most difficult trading conditions most of them have ever seen, and some will not survive it, Right Move is screwing them and crowing about it.
Actually if you can have anti press releases on a company that above isn't a bad work in progress.
@Anon
You are of course right. However your view can only be agreed with if you believe in terms of the profit motive that it is acceptable to charge more than is needed to make more than is needed.
Yes good luck to Ed Williams and who wouldn't want to be in his position but in effect he is no different to any other grossly overpaid fat cat. Entrepreneurs deserve all they get for taking risks - but is RM a risk and has it been in reality for the past 10 years?
Why do estate agents boo about Rightmoves success? Jealousy?
You dont have to be on on Rightmove, You dont have to pay the fees. Get on with selling houses rather than booing about their success and maybe you might get somewhere.
There obvioulsy good at what they do, but if you dont like it then leave
Thanks for rising your fees like 10000%, thanks for accepting private sellers and similar portal adverts, thanks for essentially trying to put us out of business.. DON'T LET THE DOOR HIT YOU ON THE WAY OUT. MESSAGE TO NEW BOSS: DON'T MUG US OFF AS WE ARE YOUR BUSINESS AND WEVE ALL HAD ENOUGH!!
£429,999 obscene all this from grilling agents, it really is time to cut the fees come on Rightmove look after your customers without us you will have nothing