Former Shazam boss Fisher in right move to property portal

21 November 2019, 17:39 | Updated: 21 November 2019, 19:47

The former boss of the music recognition app Shazam Entertainment is to become the next chairman of Rightmove, Britain's biggest online property portal.

Sky News has learnt that Andrew Fisher is close to being named as Scott Forbes' successor by the FTSE-100 company.

City sources said that Mr Fisher's appointment could be announced within weeks.

Rightmove has been hunting for a new chairman for several months.

Mr Forbes' departure had become inevitable under revised corporate governance guidelines which deem that listed company chairs are no longer independent after more than nine years on the board.

He has been a director of the property portal since 2005.

Rightmove has seen its shares perform strongly, despite the UK's sluggish housing market.

In July, the company said it had seen a record 845m visits to its platform during the first half of the year, with annual revenue per advertisers showing stronger-than-expected growth.

Rightmove is now worth £5.4bn, with its shares having soared by 45% during the last year.

The arrival of Mr Fisher will hand the former Shazam chairman his first public company chairmanship.

He already sits on the boards of Marks & Spencer and Moneysupermarket Group, and was among the advisers to the government on the most recent BBC charter review.

Rightmove declined to comment on Thursday evening.