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Morgan to leave Trade Me next month

NZ NewswireNZ Newswire 23/11/2016 Edwin Mitson

Sam Morgan founded online auction site Trade Me in 2006 © Getty Sam Morgan founded online auction site Trade Me in 2006 Founder Sam Morgan is to leave the board of Trade Me, the company he founded and sold in 2006, on Dec 15, the company said on Wednesday in a statement.

His departure was signposted in October, and tributes were paid at this month's annual general meeting in Wellington, which he attended.

He told BusinessDesk in October that he intended to remain a shareholder but wanted to clear his calendar to focus on early-stage businesses and his charitable foundation. Morgan joined the board when it listed on the NZX in 2011.

Simon West is to take his place as independent director. West is currently the executive director of Max Fashions, the women's clothing retailer. He was previously chief executive of EziBuy and the Australian e-commerce website, DealDirect.com.au.

Trade Me chair David Kirk welcomed him onboard: "Simon comes with great online experience and a deep knowledge of retail. He brings a valuable entrepreneurial outlook and also has a good understanding of bigger businesses. I'm sure he'll be an excellent addition to the board."

"Trade Me is a fantastic business with a lot of opportunity in front of it. I'm looking forward to making a contribution to one of New Zealand's most admired companies," West said.

Shares in Trade Me fell 0.2 per cent or 1 cent to $4.84. They've risen 16 per cent since the start of the year.

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