Moonpig CEO to step down following strong FY25 performance
Moonpig CEO Nickyl Raithatha is set to step down after seven years with a 12-month notice period during which he will continue to lead the business.
Moonpig CEO Nickyl Raithatha will step down after seven years, remaining in charge during a 12-month notice period.
Raithatha joined the etailer in 2018, after founding and leading the Finery London fashion brand.
Under his leadership, the business successfully floated on the London Stock Exchange in 2021 and has strengthened its position as a leading online platform for greeting cards and gifting.
The company has started the search for his successor.
Moonpig chair Kate Swann said: “Nickyl leaves the group in a strong position, with the Group’s FY25 results showcasing another year of strong earnings growth and high free cash flow.
“He has built a seasoned leadership team that will drive strong execution continuity during the transition. We are well prepared from a succession perspective and will continue to work closely with Nickyl as we look to appoint his successor.”
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Alongside the CEO update, the etailer reported FY25 revenue of £350.1m, up 2.6% year-on-year, driven by an 8.6% increase in Moonpig brand revenue and growth in international markets including the US, Australia, and Ireland.
Adjusted earnings per share rose 18.1% to 15.0p, supported by ongoing investments in technology, data and AI to enhance customer personalisation.
The business also highlighted strong cash generation with free cash flow up 8.4% to £66.1m. The company completed a £25m share buyback in H2 FY25 and plans to repurchase up to £60m in FY26.
On his departure, Raithatha said: “After seven years as CEO, I am proud to leave the Group in a strong position with a loyal and growing customer base, driven by innovations in technology, data and AI.
“It has been a privilege to work alongside such a talented group of people. The business is in excellent shape, with strong momentum, an experienced leadership team, and significant growth potential. Until I hand over to my successor, I remain focused on executing our strategic priorities and delivering sustained growth and long-term value for shareholders.”
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