Trade Me (ASX:TME) CEO Jon Macdonald has announced he intends to step down from the company in six months time after more than a decade at the helm.
Trade Me is the largest internet auction website in New Zealand with over 600 employees.
The board will start a global recruitment and will work with Mr Macdonald to ensure a smooth transition.
The company’s attempts to purchase Motorcentral.co.nz earlier this year were knocked back by the Commerce Commission.
Motorcentral is a cloud based dealer management platform for motor vehicle dealers.
Shares in Trade Me (ASX:TME) closed 1.53 per cent higher to $4.64 yesterday.