Online card retailer Moonpig has announced that CEO Nickyl Raithatha will leave the company
Raithatha, who has been at the helm since 2018, oversaw Moonpig’s IPO in 2021. When the company listed on the London Stock Exchange four years ago, its shares shot up by 17% on its first day of trading, valuing the company at £1.4bn.
Raithatha will continue in his role for a year-long notice period, while the search begins for a successor.
He said: “After seven years as CEO, I am proud to leave the group in a strong position as the clear leading platform in cards and gifts across both the UK and the Netherlands, with a loyal and growing customer base, driven by our innovations in technology, data and AI.’’
Kate Swann, chair of Moonpig, added: “I would like to thank Nickyl for his service and contribution as CEO, including leading the group to a successful IPO on the London Stock Exchange in 2021.
“Under his leadership, the group has reinforced its position as the category-defining online platform for greeting cards and gifting.
“Nickyl leaves the group in a strong position, with the Group’s FY25 results showcasing another year of strong earnings growth and high free cash flow. The board remains confident in the opportunities ahead.’’
The announcement came as Moonpig reported that its FY25 revenue was up 2.6% year-on-year, at £350.1m. It stated this was due to growth in international markets such as Ireland, Australia and the US, and an 8.6% increase in Moonpig brand revenue.
