Purplebricks director stands down after two years...

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30 June 2020

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By Graham Norwood

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Purplebricks director stands down after two years

One of the key members of the Purplebricks board has stood down after two years.

Andreas Wiele joined the Purplebricks board in 2018 as a representative of the German-based Axel Springer, one of Europe’s largest digital publishing companies.

Wiele joined as Springer invested some £125m in the company in spring 2018, including a £100m subscription for new shares in order to accelerate the company’s roll-out in the US - an enterprise that quickly ended in failure.

At the time the Springer investment was also described as funding “technological innovation and [to] expand Purplebricks’ service offering” - since then, Purplebricks has scaled down its activities, closing its Australian service as well as its American operation.

Wiele is quitting the board now as he has left Axel Springer - a replacement at Purplebricks’ top table will be announced shortly.

The agency’s chairman, Paul Pinder, says in a statement to shareholders: ”On behalf of the Board I would like to thank Andreas for his expertise and continued support of our innovative business model during his time on the Purplebricks Board. We wish him the very best for his future endeavours."