David Soskin has stepped down as CEO of price comparison site Cheapflights in a restructuring of its board.
Chris Cuddy, formerly group managing director, will assume the responsibilities of CEO while Soskin will become vice chairman.
Soskin said the size of the business and its plans for international expansion now require a different style of management.
“When bringing Chris on board, it was clear that his technology background, his experience with US dotcoms and leadership abilities would be of enormous benefit to the company. I am confidently turning over my role – and Cheapflights – into the safest of hands as the company enters a new era.” he said.
Cuddy joined Cheapflights in October 2005 as group managing director. He was previously CEO of online advertising network Engage.
He said: “The Cheapflights Group now has in place experienced management teams both here and in North America whose technology, internet media and travel industry expertise are second to none. With the recent appointment of John Clare as non-executive chairman and with the continued contribution of David Soskin we have an exceptional board.”
In term of its financial future, the company is still considering whether to float on the London stock exchange, sell or accept third party investment.