Purplebricks’ CEO Mitchell to leave post in shock announcement

Purplebricks CEO Sam Mitchell is leaving the company after a restructure that means his post no longer exists.

He took over as chief executive when Strike bought Purplebricks for £1 last year, but is now leaving only 18 months into his time at the helm.

Just last month he made a bold prediction that Purplebricks will have 10% of the sales market in two years’ time. But now he is leaving after a transition to a new structure with divisional heads reporting directly to Executive Chairman Andrew Harrison.

Financial issues

There have been financial issues, and it emerged earlier this year that Strike made a loss of £19.7 million in the year before it bought Purplebricks.

Mitchell joined Strike in 2018 after leaving his role as Head of Lettings at Rightmove. He was previously at Sothebys and Your Move.

As part of this reorganisation Sam Mitchell, CEO, will leave the business after a transition period.”

A Purplebricks spokesperson says: “Purplebricks has reorganised for the next stage of its journey. The group will now operate with distinct businesses in Sales, Mortgages and Lettings, with a fourth division to be announced in the coming months.

“These businesses will continue to be run by their respective MDs, who will report into Andrew Harrison as Executive Chairman.

“As part of this reorganisation Sam Mitchell, CEO, will leave the business after a transition period. Andrew, the former CEO of Carphone Warehouse, and Sam have worked together to disrupt the estate agency industry since 2017, first at Strike and then at Purplebricks following the merger of the two brands in 2023. Sam will continue to work closely with Andrew over the coming months as Purplebricks’ new structure takes shape.”