Nickyl Raithatha, chief executive of Moonpig, has informed the company's board of his decision to step down after seven years leading the greeting cards retailer.

Raithatha will remain in post throughout his 12 month notice period to oversee the transition and support the appointment of his successor. During his tenure, he guided the company through its 2021 initial public offering on the London Stock Exchange.

Before joining Moonpig in 2018, Raithatha founded and served as chief executive of womenswear brand Finery. His career also includes senior positions at internet business developer Rocket Internet, Goldman Sachs and analytics startup Crowd Vision.

Kate Swann, chair of Moonpig's board, paid tribute to Raithatha's leadership: "Under his direction, the group has strengthened its position as the leading online platform for greeting cards and gifts. Nickyl has assembled an experienced leadership team that will ensure strong operational continuity during this transition period."

Swann added: "We are well positioned from a succession planning perspective and will maintain close collaboration with Nickyl as we identify and appoint his successor."

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