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Moneysupermarket CEO stands down to 'pursue his career in a new direction'

Chief Executive of North Wales price comparison company is stepping down and search begins for successor

Mark Lewis, who succeeded Peter Plumb as chief executive of Moneysupermarket, is stepping down

The chief executive of one the º£½ÇÊÓÆµs leading price comparison companies Moneysupermarket is standing down.

The Flintshire-based business, which also told investors it is set to meet expectations for the financial year, said Mark Lewis will step down once a successor has been found.

"Mark Lewis has indicated to the board that he wishes to step down as chief executive and pursue his career in a new direction," the company said in a statement released to shareholders on Wednesday.

It has already kicked off the formal search process to find a replacement for Mr Lewis.

"The board is grateful for Mark's contribution to the group," the company said.

The statement continued: "In the three years since Mark became CEO, the group has helped households save over £6 billion, returned £250 million to shareholders, launched new personalised customer experiences, and developed new capabilities in business-to-business services and the digitisation of mortgage comparison under the reinvent growth strategy."

Mr Lewis was appointed to the role with Moneysupermarket in October 2016, joining the .

Mr Lewis announced his departure a day before he is set to present the company's preliminary results for the last financial year alongside finance chief Scilla Grimble.