Purplebricks has appinted a new CFO as it battles to recover from a financial slump.

Dominique Highfield will join the board from 1 November. She will face immediate challenges after profits fell 27% recently.

She joins Purplebricks with 15 years’ experience in finance including at Sainsbury’s, Amazon and, most recently, as director of finance at Pentland Brands, the large privately-owned business housing well-known retail brands. She qualified as a Chartered Accountant whilst at PwC.

Steve Long will step down from his role as CFO and the board, but will remain with the business until the end of November to support the transition.

Paul Pindar, Purplebricks chairman, says: “On behalf of the board I would like to thank Steve for his contribution and supporting Helena as she transitioned into the CEO role.

“Dominique brings strong and relevant financial and strategic experience alongside a commercial attitude and an energy and determination that aligns with Helena’s.”

Well-equipped

Helena Marston, CEO, says: “Dominique is a seasoned financial executive, and is well-equipped to work with our senior executive team to help us return to sales growth and gross margin improvement at pace.”

Highfield says: “I am proud and inspired to be joining Purplebricks. I believe the brand’s offering to consumers is incredibly relevant and much needed during the current climate, and that we can make a real difference to real people.

“I am passionate about leading the finance function through the business’ next chapter of growth, making sure finance has a pivotal seat at the table – influencing sustainable cash and profit growth.”

Purplebricks reported a drop of 23% in revenues down to £70 million, and a profit fall of 27% to 42.1 million in August. The struggling agency also suffered an EBITDA loss of £8.8 million.