- Push-out Score determined
- After less than a year and a half in the position
- Thanks and good wishes for Plumb
- Peter Duffy taking over in the interim
- Search for a successor
- Plumb kept it short and said 41 words
(exechange) — London, United Kingdom, January 21, 2019 — Peter Plumb, chief executive of Just Eat, leaves. It is an abrupt change. As announced by Just Eat Plc in a news release on Monday, January 21, 2019, Peter Plumb leaves his post as Chief Executive Officer at the online food order and delivery service after less than a year and a half in the role, effective immediately.
No company wants a CEO to flame out in the first years.
Peter Plumb’s move comes nine months after Mike Evans took over as Chairman of Just Eat plc.
Just Eat will undertake a search for a successor.
Peter Plumb’s duties will be taken over in the interim by Peter Duffy, most recently Chief Customer Officer of Just Eat plc, as Interim Chief Executive Officer.
“Now is the right time”
A reason for Peter Plumb’s sudden departure from the CEO post was not explicitly provided. Peter Plumb said: “The business is in good health, and now is the right time for me to step aside and make way for a new leader for the next exciting wave of growth.”
Precise information regarding Peter Plumb’s future plans was not immediately available.
Just Eat said: “Peter Plumb is stepping down as Chief Executive Officer and a Director of the Company.”
Share price decline
The management change announcement follows a decline in Just Eat plc’s share price of 25 percent since July 2018.
Chaired by Mike Evans
Just Eat plc is chaired by Mike Evans.
Evans joined the Board on March 6, 2018 as an Independent Non-executive Director and his appointment as Independent Non-executive Chairman became effective from the conclusion of the AGM on April 26, 2018.
In the position of CEO since 2017
Peter Plumb was appointed Chief Executive Officer with effect from September 18, 2017.
His most recent role was Chief Executive Officer of Moneysupermarket.com Group PLC, a position he held from February 2009 until he stepped down in May 2017.
In his eight years as Chief Executive Officer, Plumb guided the business to a market leadership position, led the acquisition of MoneySavingExpert.com, and oversaw a six-fold increase in its share price.
Prior to Moneysupermarket.com, Plumb was UK Managing Director of Dunnhumby Limited, General Manager Europe of Disney Consumer Products, and International Director of Dyson Appliances Limited.
Plumb was, until May 2018, a Non-executive Director of The Co-operative Group Limited.
As a general rule, when a top leader announces to step aside with no permanent successor in place, it’s a signal that the change was unexpected and too early.
Generally speaking, potential causes for an unplanned change can be, among others, disagreement or dispute.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the likelihood that a manager was pushed out or felt pressure to leave the position.
exechange reached out to Just Eat and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 4.2019 ($).