Scott Forbes
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Latest property news
EXCLUSIVE: Leading proptech pioneer quits Movebubble and the industry
Aidan Rushby confirms he has stepped down from Movebubble and that a new CEO is being sought.
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Former Rightmove boss exits proptech directorship three months after joining
Scott Forbes joined smartphone lettings platform Movebubble in October has been abruptly removed from its list of directors.
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EXCLUSIVE: Former Rightmove chief joins board of lettings smartphone app
Portal's former chairman Scott Forbes is now a director of four-year-old tech platform Movebubble.
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Rightmove points to a smartphone future as it hires Shazam’s former CEO
Rightmove has finally revealed its replacement for outgoing chairman Scott Forbes, who is to depart at the end of December after 14 years with the company 48-year-old Andrew Fisher will be the portal’s new non-executive chairman and comes from music discovery smartphone app Shazam, which enables users to identify songs they hear on the radio or in stores and is used by 100 million people worldwide. Fisher spent nearly 14 years at the company including as its CEO and later chairman. His mobile development experience would point to Rightmove’s future growth; at least 70% of traffic to portals like Rightmove, Zoopla and OnTheMarket comes from smartphone users these days. Fisher is also a non-exec board member at Marks & Spencer, Moneysupermarket.com and Merlin Entertainments, which owns Madame Tussauds and Alton Towers. Gong given In the past he has been a special adviser on the BBC to a government minister and received an OBE in 2016 for his contribution to the digital economy. Rightmove’s Chief Executive Officer, Peter Brooks-Johnson said: “I’d like to thank Scott for his invaluable contribution to Rightmove’s success over the past years and particularly the support he’s shown me over the past three years as CEO. I’m…
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Rightmove chairman to step down as average agent monthly cost hits £1,000
Annual results from Rightmove reveal increased profits and turnover as well as a looming reshuffle at board level.
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Rightmove chairman sells shares worth £4.23m
Rightmove chairman Scott Forbes (pictured, right) has sold shares in the company worth £4.23 million, taking advantage of a recent spike in its share price. It has jumped in value by £2 to £43.63 or five percent since the 19th May, valuing the portal at £4.03 billion. Scott sold 100,000 of his shares yesterday at the peak of the current surge, which eased off today. This leaves him with 219,000 shares in the company worth £9.3 million. This is not the first time that Scott has cashed in his Rightmove shares. In 2007, just two years after joining the company from worldwide property services company Cendant, he sold shares worth £7 million to finance a home purchase in Kensington and in 2012 shares worth £4 million. Constant growth He joined Rightmove and was appointed to its board in 2005 and has overseen almost constant share price (see graph, right) and business growth at the PLC. This includes last year, which its most recent figures show saw revenue and profits that both jumped by 15% compared to 2015, and total dividend payments that grew by 19%. Agents listing on Rightmove currently spend £832 a month and the website has 20,121 branches…
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Rightmove shares slide as agents grumble
Rightmove announced full year results on Friday 24th February, reporting further success. Pre-tax profits rose from £137.1m in 2015 to £161.5m in 2016, up by almost 18 per cent. Revenues rose by 15 per cent to £220m. So why, on that day, did their shares slide down a steep hill – down 5.8 per cent to £40, wiping over £200 million off its value? Rightmove Chairman, Scott Forbes said, “Our audience, best in class platforms and significant property inventory advantage coupled with our focus on innovation at the core of our business drives our value proposition for the benefit of both our trade customers and consumers. Property data has always been at the core of what we do and we are excited about continuing to harness the power of our data to drive further transparency and efficiency in the property market, predict market opportunities and drive success for our customers and consumers.” There’s no doubt that Rightmove is doing well for its investors, so it is possible that the fall was due to the announcement of Nick McKittrick’s (pictured right) forthcoming retirement, as the national papers deduced, but could there also be growing unrest among Rightmove’s 20,121 Agency and New Homes customers? RIGHTMOVE…
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