Purplebricks non-executive director Andreas Wiele has stepped down from the company’s board.
Wiele stepped down following his recent departure from German media firm Axel Springer, which in 2018 bought an 11.5% stake in Purplebricks for £125m.
In 2019, Axel Springer increased its holding in the company to 26.6% for £43.7m after purchasing shares from the group’s co-founders Michael and Kenny Bruce.
A replacement Axel Springer non-executive director will be announced in due course.
Purplebricks chairman Paul Pinder said: “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.”
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