The outgoing chief executive of Rightmove has claimed he has a good relationship with the portal’s customers.
It was announced this week that Rightmove chief executive Peter Brooks Johnson will leave the property website next year after 16 years with the firm.
An article in The Times yesterday explored whether Rightmove had a “chokehold” on the industry due to its dominance in the portal market and the fees charged to agents.
Brooks-Johnson said in response: “It’s just language I don’t recognise” and added that he had “some really fantastic relationships” with the company’s customers.
He did, however, acknowledge that Rightmove probably didn’t move fast enough to help the industry at the start of the pandemic.
The portal was criticised in March 2020 for initially only offering to defer agency fees before backtracking and cutting its charges amid restrictions on property viewings and sales.
He said: “We probably didn’t move as fast as we should have done.
“I don’t think we got it spot-on right, frankly.”
Brooks-Johnson was initially a product director at Rightmove and took the helm as chief executive five years ago.
A stock market announcement on Monday said Brooks-Johnson will continue as chief executive through to the announcement of Rightmove’s full year results in February 2023.
He will assist with the recruitment of his replacement and a smooth and orderly handover during that period.
The news dented Rightmove’s share price, which fell from 563p at the close of the markets on Friday to 534p at the opening bell on Monday – a 5.1% drop.
The price fell further during trading to under 530p but closed at 538p.
Its share price reopened again on Tuesday at 547p and closed at 540p.