Trade Me CEO Jon Macdonald to step down

Company News

by Anna Napoli

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.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.