Comparethemarket.com.au selects new CEO
Former iSelect chief Matt McCann has been appointed CEO of Comparethemarket.com.au, as the comparison website moves towards its next stage of growth.
Comparethemarket.com.au was introduced to Australia in 2012 by Compare The Market – part of Budget Holdings – following the launch of a UK version in 2006.
Mr McCann will succeed founding MD George Meligonis, who will stay on as an executive with Brisbane-based Auto & General Insurance, which is also part of the Budget Holdings family.
Currently a Melbourne-based consultant, Mr McCann will relocate to Brisbane and begin work on May 18.
“Matt brings with him unparalleled experience in the Australian comparison industry, as well as a proven ability to drive exponential growth,” Auto & General CEO Ram Kangatharan said.
“As the company transitions out of its start-up phase and into its next stage of growth, we believe Matt is the right person to build on the… business model.”
Mr McCann joined iSelect in 2008 as corporate development director, and was made CEO in 2012.
He was responsible for extending the comparator’s product lines and spearheaded its acquisition of the InfoChoice comparison site in 2011.
iSelect endured a rocky start as a listed company, incurring the Australian Securities and Investments Commission’s wrath for underperforming on its prospectus revenue forecast and for continuous disclosure irregularities. The regulator investigated but took no further action.
Mr McCann resigned from iSelect in October 2013 just four months after the float. At the time, founder and Chairman Damien Waller said the departure stemmed from a difference of opinion with the board over the company’s direction.
“Matt had a view around how to grow the business via acquisition, whereas the board was much more focused on organic growth,” Mr Waller said.